https://www.taxtmi.com/caselaws?id=158280 A tax incentive scheme that had already conferred eligibility for full sales tax exemption could not be amended so as to deprive the applicant of benefits already accrued under the earlier terms. The later restrictions were held to operate only prospectively, because withdrawal or curtailment of an exemption stood on a different footing from grant of exemption where retrospective operation was expressly permitted. Promissory estoppel also applied: the entrepreneur had altered position by establishing the unit and obtaining eligibility on the basis of the State's representation, so the State could not defeat the promised exemption through retrospective amendment. The assessment order was quashed and entitlement to the original exemption was preserved while certificate conditions were satisfied. en-us Fri, 19 Jul 1996 00:00:00 +0530 Sat, 19 Oct 2013 15:37:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158280 A tax incentive scheme that had already conferred eligibility for full sales tax exemption could not be amended so as to deprive the applicant of benefits already accrued under the earlier terms. The later restrictions were held to operate only prospectively, because withdrawal or curtailment of an exemption stood on a different footing from grant of exemption where retrospective operation was expressly permitted. Promissory estoppel also applied: the entrepreneur had altered position by establishing the unit and obtaining eligibility on the basis of the State's representation, so the State could not defeat the promised exemption through retrospective amendment. The assessment order was quashed and entitlement to the original exemption was preserved while certificate conditions were satisfied. Case-Laws VAT and Sales Tax Fri, 19 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158280