https://www.taxtmi.com/caselaws?id=45821 Retrospective validation of a tax exemption remains within legislative competence where the Legislature removes the defect in the earlier scheme and changes the legal basis underlying the prior judicial decision, rather than exercising judicial power. The validating provision adopting the revised exemption framework was therefore constitutionally sustainable and not colourable legislation. An output-based ceiling could rationally identify tiny or cottage units for fiscal relief; retrospective operation did not make that classification arbitrary or restrict the right to carry on trade. Promissory estoppel could not restrain legislative action, and the asserted refund entitlement did not establish the claimed property protection. The validating provision and exemption scheme were sustained. en-us Sat, 13 Aug 1983 00:00:00 +0530 Wed, 14 Jul 2010 10:55:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45821 Retrospective validation of a tax exemption remains within legislative competence where the Legislature removes the defect in the earlier scheme and changes the legal basis underlying the prior judicial decision, rather than exercising judicial power. The validating provision adopting the revised exemption framework was therefore constitutionally sustainable and not colourable legislation. An output-based ceiling could rationally identify tiny or cottage units for fiscal relief; retrospective operation did not make that classification arbitrary or restrict the right to carry on trade. Promissory estoppel could not restrain legislative action, and the asserted refund entitlement did not establish the claimed property protection. The validating provision and exemption scheme were sustained. Case-Laws Central Excise Sat, 13 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45821