https://www.taxtmi.com/caselaws?id=237801 The Bombay Sales Tax incentive framework for small scale units was examined where amended Section 41C sought to impose, for the first time, a ceiling linked to approved gross fixed capital investment and to curtail the incentive period. The earlier 1979 package scheme had not imposed such a ceiling, and the 1982 modification preserved commitments already made to existing units unless they opted for the revised regime. The amendment was treated as ineffective against units that had applied under the original scheme, obtained eligibility belatedly, and altered their position in reliance on that assurance, because retrospective curtailment of earned or expected benefits would be inequitable and arbitrary in that context. en-us Tue, 17 Sep 2013 00:00:00 +0530 Tue, 08 Oct 2013 08:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237801 The Bombay Sales Tax incentive framework for small scale units was examined where amended Section 41C sought to impose, for the first time, a ceiling linked to approved gross fixed capital investment and to curtail the incentive period. The earlier 1979 package scheme had not imposed such a ceiling, and the 1982 modification preserved commitments already made to existing units unless they opted for the revised regime. The amendment was treated as ineffective against units that had applied under the original scheme, obtained eligibility belatedly, and altered their position in reliance on that assurance, because retrospective curtailment of earned or expected benefits would be inequitable and arbitrary in that context. Case-Laws VAT and Sales Tax Tue, 17 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237801