https://www.taxtmi.com/caselaws?id=157684 Promissory estoppel cannot compel the State to act contrary to a statutory prohibition or override retrospective legislation imposing a ceiling on interest-free sales tax loan incentives. The statutory ceiling therefore prevailed over the earlier executive assurance. The claimant also failed to establish the reliance and alteration of position required for promissory estoppel: registration was not sought during the scheme's operative period, prompt action was not taken, and the application followed the ceiling legislation. No legally sustainable entitlement to the incentive arose. en-us Thu, 04 Mar 1993 00:00:00 +0530 Wed, 09 Oct 2013 14:11:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=157684 Promissory estoppel cannot compel the State to act contrary to a statutory prohibition or override retrospective legislation imposing a ceiling on interest-free sales tax loan incentives. The statutory ceiling therefore prevailed over the earlier executive assurance. The claimant also failed to establish the reliance and alteration of position required for promissory estoppel: registration was not sought during the scheme's operative period, prompt action was not taken, and the application followed the ceiling legislation. No legally sustainable entitlement to the incentive arose. Case-Laws VAT and Sales Tax Thu, 04 Mar 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=157684