https://www.taxtmi.com/caselaws?id=45821 A retrospective tax validation can be sustained where the Legislature removes the defect identified in the earlier exemption scheme and keeps within its taxing competence. The article explains that such validation does not amount to an exercise of judicial power or colourable legislation if it alters the legal basis of the prior decision. It also notes that an output-based ceiling may be used as a rational classification for a fiscal exemption, and that retrospective operation does not by itself make the scheme arbitrary or discriminatory. Promissory estoppel cannot restrain legislative action, and a claimed refund right is not treated as property in the manner argued. 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 A retrospective tax validation can be sustained where the Legislature removes the defect identified in the earlier exemption scheme and keeps within its taxing competence. The article explains that such validation does not amount to an exercise of judicial power or colourable legislation if it alters the legal basis of the prior decision. It also notes that an output-based ceiling may be used as a rational classification for a fiscal exemption, and that retrospective operation does not by itself make the scheme arbitrary or discriminatory. Promissory estoppel cannot restrain legislative action, and a claimed refund right is not treated as property in the manner argued. Case-Laws Central Excise Sat, 13 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45821