https://www.taxtmi.com/caselaws?id=42342 Parliament may enact retrospective fiscal validation legislation and cure defects in an earlier exemption notification, even where prior judicial interpretation had favoured taxpayers. The retrospective exemption scheme and production-based ceiling were treated as a permissible fiscal classification, because exemption is a concession that may be limited to the intended small-scale sector on a rational output criterion. The retrospective measure was also held not to violate Article 14, the business freedom guarantees, or property rights, and promissory estoppel could not block a competent retrospective validating law. The earlier writ-based refund consequence therefore did not survive, and the challenge failed. en-us Tue, 30 Aug 1983 00:00:00 +0530 Thu, 10 Jun 2010 16:03:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42342 Parliament may enact retrospective fiscal validation legislation and cure defects in an earlier exemption notification, even where prior judicial interpretation had favoured taxpayers. The retrospective exemption scheme and production-based ceiling were treated as a permissible fiscal classification, because exemption is a concession that may be limited to the intended small-scale sector on a rational output criterion. The retrospective measure was also held not to violate Article 14, the business freedom guarantees, or property rights, and promissory estoppel could not block a competent retrospective validating law. The earlier writ-based refund consequence therefore did not survive, and the challenge failed. Case-Laws Central Excise Tue, 30 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42342