https://www.taxtmi.com/caselaws?id=162760 Promissory estoppel protects industrial units that altered their position and made investments on the strength of a State tax incentive promise, limiting withdrawal of the promised exemption by delegated or policy change. Any attempted resiling must be supported by genuine overriding public interest; fiscal burden or the VAT regime alone is not enough on the stated facts. The transitional VAT framework is also discussed as preserving the remaining exemption period by converting it into tax deferment, rather than extinguishing the benefit. en-us Thu, 18 Jan 2007 00:00:00 +0530 Thu, 13 Mar 2014 18:13:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=162760 Promissory estoppel protects industrial units that altered their position and made investments on the strength of a State tax incentive promise, limiting withdrawal of the promised exemption by delegated or policy change. Any attempted resiling must be supported by genuine overriding public interest; fiscal burden or the VAT regime alone is not enough on the stated facts. The transitional VAT framework is also discussed as preserving the remaining exemption period by converting it into tax deferment, rather than extinguishing the benefit. Case-Laws VAT and Sales Tax Thu, 18 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=162760