https://www.taxtmi.com/caselaws?id=165058 Industrial tax incentive concessions may warrant reconsideration when a subsequent reduction in CST rates substantially undermines the deferred-tax benefit promised to the unit. The Court applied promissory estoppel and legitimate expectation to hold that a rigid refusal to modify the sales tax deferment scheme could defeat the scheme's purpose and make the concession illusory. It therefore declined to sustain the refusal order and directed reconsideration of the petitioner's request, leaving room for the State to frame appropriate ameliorative measures rather than insisting on the original form of relief alone. en-us Thu, 15 Jul 2010 00:00:00 +0530 Thu, 09 Oct 2014 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165058 Industrial tax incentive concessions may warrant reconsideration when a subsequent reduction in CST rates substantially undermines the deferred-tax benefit promised to the unit. The Court applied promissory estoppel and legitimate expectation to hold that a rigid refusal to modify the sales tax deferment scheme could defeat the scheme's purpose and make the concession illusory. It therefore declined to sustain the refusal order and directed reconsideration of the petitioner's request, leaving room for the State to frame appropriate ameliorative measures rather than insisting on the original form of relief alone. Case-Laws VAT and Sales Tax Thu, 15 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165058