https://www.taxtmi.com/caselaws?id=313572 Governmental industrial policy assurances were held enforceable under promissory estoppel where units had acted on the promise, altered their position, and invested in reliance on notified incentives. The State could not withhold promised subsidies without a legally sufficient basis. Accrued benefits under notified policies and rules could not be curtailed retrospectively by later administrative guidelines or executive instructions; only a lawful prospective amendment could change the regime. The impugned guidelines and orders were set aside, and release of the eligible incentives and subsidies was directed, with interest on default. en-us Fri, 20 May 2011 00:00:00 +0530 Mon, 22 Apr 2024 16:08:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313572 Governmental industrial policy assurances were held enforceable under promissory estoppel where units had acted on the promise, altered their position, and invested in reliance on notified incentives. The State could not withhold promised subsidies without a legally sufficient basis. Accrued benefits under notified policies and rules could not be curtailed retrospectively by later administrative guidelines or executive instructions; only a lawful prospective amendment could change the regime. The impugned guidelines and orders were set aside, and release of the eligible incentives and subsidies was directed, with interest on default. Case-Laws Indian Laws Fri, 20 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313572