https://www.taxtmi.com/caselaws?id=271301 A State promise of tax exemption for a project may be enforceable through promissory estoppel where the assessees altered their position in reliance on that assurance and the statute permits exemption by notification subject to conditions. On that basis, the covered project entities were treated as entitled to exemption under the Karnataka Value Added Tax Act, 2003, and the State was required to issue the necessary notifications. The benefit was not extended to a subcontractor who was not within the contractual class of affiliates, because the Framework Agreement limited the concession to the company and its affiliates. The result was tax relief for the covered entities, but denial of the exemption claim for the non-affiliate. en-us Wed, 16 Dec 2015 00:00:00 +0530 Tue, 02 Feb 2016 10:09:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271301 A State promise of tax exemption for a project may be enforceable through promissory estoppel where the assessees altered their position in reliance on that assurance and the statute permits exemption by notification subject to conditions. On that basis, the covered project entities were treated as entitled to exemption under the Karnataka Value Added Tax Act, 2003, and the State was required to issue the necessary notifications. The benefit was not extended to a subcontractor who was not within the contractual class of affiliates, because the Framework Agreement limited the concession to the company and its affiliates. The result was tax relief for the covered entities, but denial of the exemption claim for the non-affiliate. Case-Laws VAT and Sales Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271301