https://www.taxtmi.com/caselaws?id=43838 Existing import entitlements under a value based licence could not be retrospectively curtailed by later notifications without justification in public interest. The Court held that executive or subordinate legislative action affecting trade remains subject to judicial review and must satisfy the reasonableness requirement under Article 19(6). As the licencee had altered position by undertaking export obligations and incurring expenditure on the faith of the licence, and no material was shown to justify the retrospective change, promissory estoppel applied on the facts. The notifications therefore could not defeat the pre-existing licence entitlement. en-us Fri, 27 May 1994 00:00:00 +0530 Mon, 21 Jun 2010 13:56:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43838 Existing import entitlements under a value based licence could not be retrospectively curtailed by later notifications without justification in public interest. The Court held that executive or subordinate legislative action affecting trade remains subject to judicial review and must satisfy the reasonableness requirement under Article 19(6). As the licencee had altered position by undertaking export obligations and incurring expenditure on the faith of the licence, and no material was shown to justify the retrospective change, promissory estoppel applied on the facts. The notifications therefore could not defeat the pre-existing licence entitlement. Case-Laws Customs Fri, 27 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43838