https://www.taxtmi.com/caselaws?id=752684 HC dismissed State's appeal regarding imposition of financial cap on IPA (Investment Promotion Assistance) for a company under Special Package of Incentives. The company was entitled to IPA at 75% of VAT and CST paid for five years without any cap based on Fixed Capital Investment, as per eligibility certificate dated May 18, 2010. Court held that Additional Chief Secretary's order dated February 14, 2019 imposing financial cap was based on irrelevant materials and incorrect interpretation of government order dated March 2, 2006. State's action was found to be mala fide and arbitrary, designed to defeat company's legitimate claim for balance amount under the special package. en-us Tue, 14 May 2024 00:00:00 +0530 Thu, 16 May 2024 07:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752684 HC dismissed State's appeal regarding imposition of financial cap on IPA (Investment Promotion Assistance) for a company under Special Package of Incentives. The company was entitled to IPA at 75% of VAT and CST paid for five years without any cap based on Fixed Capital Investment, as per eligibility certificate dated May 18, 2010. Court held that Additional Chief Secretary's order dated February 14, 2019 imposing financial cap was based on irrelevant materials and incorrect interpretation of government order dated March 2, 2006. State's action was found to be mala fide and arbitrary, designed to defeat company's legitimate claim for balance amount under the special package. Case-Laws Indian Laws Tue, 14 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752684