https://www.taxtmi.com/caselaws?id=160525 The 1991 Industrial Policy was read as extending sales tax exemption to eligible existing industrial units undertaking expansion, modernisation or diversification when the prescribed capital, capacity and employment conditions were met. The policy's incentive promise, including exemption on raw materials and finished products for seven years, could not be narrowed by the 1995 Scheme to only incremental production from expansion. A later scheme could not lawfully curtail a benefit already promised and acted upon, especially where eligibility certificates had been issued on the earlier basis. The dissent took the view that the 1991 Policy itself limited relief to extra investment made in expansion. en-us Tue, 27 Mar 2001 00:00:00 +0530 Thu, 19 Dec 2013 17:00:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=160525 The 1991 Industrial Policy was read as extending sales tax exemption to eligible existing industrial units undertaking expansion, modernisation or diversification when the prescribed capital, capacity and employment conditions were met. The policy's incentive promise, including exemption on raw materials and finished products for seven years, could not be narrowed by the 1995 Scheme to only incremental production from expansion. A later scheme could not lawfully curtail a benefit already promised and acted upon, especially where eligibility certificates had been issued on the earlier basis. The dissent took the view that the 1991 Policy itself limited relief to extra investment made in expansion. Case-Laws VAT and Sales Tax Tue, 27 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=160525