https://www.taxtmi.com/caselaws?id=155388 Where an industrial unit was set up in reliance on a clear governmental promise of five years' sales tax exemption, the State could not later curtail that benefit to three years because promissory estoppel bound it to the representation on which the entrepreneur acted. The adverse finding that the unit's capital investment was below the prescribed limit was also unsustainable, as contemporaneous certificate and payment records showed investment above Rs. 3 lakhs. The impugned modification of the eligibility certificate was therefore invalid, and the five-year exemption was upheld. en-us Wed, 13 Jan 1988 00:00:00 +0530 Tue, 03 Sep 2013 18:57:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155388 Where an industrial unit was set up in reliance on a clear governmental promise of five years' sales tax exemption, the State could not later curtail that benefit to three years because promissory estoppel bound it to the representation on which the entrepreneur acted. The adverse finding that the unit's capital investment was below the prescribed limit was also unsustainable, as contemporaneous certificate and payment records showed investment above Rs. 3 lakhs. The impugned modification of the eligibility certificate was therefore invalid, and the five-year exemption was upheld. Case-Laws VAT and Sales Tax Wed, 13 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155388