https://www.taxtmi.com/caselaws?id=161417 The Government may revise or withdraw an export policy in public interest, especially where changed international trade conditions, GATT/ATC obligations, competitiveness concerns, and prevention of misuse justify the shift. In economic and fiscal matters, the executive has wide discretion, and promissory estoppel cannot block a lawful policy change made for public interest. Legitimate expectation likewise does not prevent revision unless the decision is mala fide or an abuse of power. An applicant for export benefits acquires no vested right to insist on continuation of an earlier quota scheme. The revised export policy withdrawing the MEE and NQE quota system was therefore upheld. en-us Thu, 09 May 1996 00:00:00 +0530 Mon, 23 Nov 2015 13:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161417 The Government may revise or withdraw an export policy in public interest, especially where changed international trade conditions, GATT/ATC obligations, competitiveness concerns, and prevention of misuse justify the shift. In economic and fiscal matters, the executive has wide discretion, and promissory estoppel cannot block a lawful policy change made for public interest. Legitimate expectation likewise does not prevent revision unless the decision is mala fide or an abuse of power. An applicant for export benefits acquires no vested right to insist on continuation of an earlier quota scheme. The revised export policy withdrawing the MEE and NQE quota system was therefore upheld. Case-Laws FEMA Thu, 09 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161417