https://www.taxtmi.com/caselaws?id=395358 An industrial subsidy promised under an operative policy, and acted upon by setting up and running units, was treated as an accrued entitlement that had crystallised during the policy period. The High Court held that later notifications and amendments could not retrospectively curtail or rewrite that completed arrangement, because the subsidy was part of the inducement on which the petitioners had made substantial investments. A plea of rectification of mistake did not justify reducing benefits already earned, and the asserted public interest was insufficient on these facts to defeat the accrued right. The impugned action was set aside to the extent it reduced the promised subsidy, and the original policy benefit was restored. en-us Fri, 04 Oct 2019 00:00:00 +0530 Wed, 27 May 2020 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395358 An industrial subsidy promised under an operative policy, and acted upon by setting up and running units, was treated as an accrued entitlement that had crystallised during the policy period. The High Court held that later notifications and amendments could not retrospectively curtail or rewrite that completed arrangement, because the subsidy was part of the inducement on which the petitioners had made substantial investments. A plea of rectification of mistake did not justify reducing benefits already earned, and the asserted public interest was insufficient on these facts to defeat the accrued right. The impugned action was set aside to the extent it reduced the promised subsidy, and the original policy benefit was restored. Case-Laws VAT and Sales Tax Fri, 04 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395358