https://www.taxtmi.com/caselaws?id=12284 The court dismissed the petition, upholding the Central Government's decision to withdraw the tax exemption due to the petitioner's non-compliance with the terms of the ECB approvals. The court found no illegality, irrationality, or procedural impropriety in the decision, emphasizing that the exemptions were contingent upon the specified utilization of the ECB funds for industrial development. en-us Fri, 31 May 2002 00:00:00 +0530 Mon, 03 May 2010 01:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12284 The court dismissed the petition, upholding the Central Government's decision to withdraw the tax exemption due to the petitioner's non-compliance with the terms of the ECB approvals. The court found no illegality, irrationality, or procedural impropriety in the decision, emphasizing that the exemptions were contingent upon the specified utilization of the ECB funds for industrial development. Case-Laws Income Tax Fri, 31 May 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12284