https://www.taxtmi.com/caselaws?id=448315 An industrial incentive promised under an earlier policy could not be withdrawn retrospectively to the prejudice of a unit that had already been established and had commenced commercial production in reliance on that promise. The later notifications curtailing the power tariff subsidy were held to operate only prospectively, because the respondents were bound by promissory estoppel in respect of benefits already accrued under the earlier policy. The denial of subsidy on the basis of the later notifications was therefore not sustainable, and the unit remained entitled to the claimed subsidy. en-us Thu, 04 Jan 2024 00:00:00 +0530 Tue, 16 Jan 2024 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448315 An industrial incentive promised under an earlier policy could not be withdrawn retrospectively to the prejudice of a unit that had already been established and had commenced commercial production in reliance on that promise. The later notifications curtailing the power tariff subsidy were held to operate only prospectively, because the respondents were bound by promissory estoppel in respect of benefits already accrued under the earlier policy. The denial of subsidy on the basis of the later notifications was therefore not sustainable, and the unit remained entitled to the claimed subsidy. Case-Laws VAT and Sales Tax Thu, 04 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448315