https://www.taxtmi.com/caselaws?id=264939 A clear State promise of entry tax exemption in an industrial policy can bind the government where an industrial unit sets up and commences production in reliance on that promise. The delayed issuance of a later notification narrowing the exemption to units commencing production on or after 1 November 2004 could not defeat the earlier promise, because the unit had altered its position on the faith of the policy and the recognised exceptions to promissory estoppel were not made out. The State could not rely on its own delay and inaction to deny the promised fiscal incentive. en-us Fri, 08 Aug 2014 00:00:00 +0530 Sun, 04 Oct 2015 12:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264939 A clear State promise of entry tax exemption in an industrial policy can bind the government where an industrial unit sets up and commences production in reliance on that promise. The delayed issuance of a later notification narrowing the exemption to units commencing production on or after 1 November 2004 could not defeat the earlier promise, because the unit had altered its position on the faith of the policy and the recognised exceptions to promissory estoppel were not made out. The State could not rely on its own delay and inaction to deny the promised fiscal incentive. Case-Laws VAT and Sales Tax Fri, 08 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264939