https://www.taxtmi.com/article/detailed?id=6596 The Central Government's power to grant exemptions from indirect taxes includes the authority to modify, condition or rescind those exemptions as an exercise of statutory power in public interest. Judicial review requires balancing equities: courts may apply promissory estoppel to bind the Government where reliance would cause manifest injustice, but will otherwise recognize that revocation or alteration of exemptions in response to changing economic circumstances is a legitimate exercise of administrative power. en-us Tue, 22 Dec 2015 06:15:22 +0530 Tue, 22 Dec 2015 06:15:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6596 The Central Government's power to grant exemptions from indirect taxes includes the authority to modify, condition or rescind those exemptions as an exercise of statutory power in public interest. Judicial review requires balancing equities: courts may apply promissory estoppel to bind the Government where reliance would cause manifest injustice, but will otherwise recognize that revocation or alteration of exemptions in response to changing economic circumstances is a legitimate exercise of administrative power. Articles Customs - Import - Export - SEZ Tue, 22 Dec 2015 06:15:22 +0530 https://www.taxtmi.com/article/detailed?id=6596