https://www.taxtmi.com/caselaws?id=195701 A final eligibility certificate under a tax incentive scheme could not be retrospectively reduced after the beneficiary had already exhausted the exemption and altered its commercial position. The court noted that although an erroneously granted certificate may be corrected in appropriate cases, such correction must occur within a reasonable time and before irreversible reliance is created. In the absence of fraud, misrepresentation, or a clear explanation for the alleged mistake, the amended certificate and consequential demand could not be sustained. Amounts deposited during writ proceedings under a protective arrangement were required to be refunded with simple interest at 9% per annum from the date of deposit. en-us Fri, 20 Jul 2012 00:00:00 +0530 Wed, 08 Nov 2017 14:13:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195701 A final eligibility certificate under a tax incentive scheme could not be retrospectively reduced after the beneficiary had already exhausted the exemption and altered its commercial position. The court noted that although an erroneously granted certificate may be corrected in appropriate cases, such correction must occur within a reasonable time and before irreversible reliance is created. In the absence of fraud, misrepresentation, or a clear explanation for the alleged mistake, the amended certificate and consequential demand could not be sustained. Amounts deposited during writ proceedings under a protective arrangement were required to be refunded with simple interest at 9% per annum from the date of deposit. Case-Laws VAT and Sales Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195701