(1.) This writ petition is made on behalf of the petitioner No. 1 company by the pen of petitioner No. 1, one Shri Krishna Kumar Chamaria claims to be the Secretary of the Company. He filed his affidavit of competency which is kept with the record,
(2.) There is a scheme in connection with export and import known as Export Promotion Capital Goods (EPCG) scheme whereunder ad valorem customs duty @ 10% has been provided. On and from 1st April, 1999 to 31st March, 2000 the Government of India introduced 0% duty by amending the previous 10% ad valorem duty under the scheme.
(3.) The petitioner imported three machines and applied to the authority concerned for granting licence to import capital goods on 14th January, 1999 under the 10% duty scheme. The same was approved by a communication of the authorities dated 18th February, 1999.