Court Examines State's Power to Rescind Notification; Promissory Estoppel Protects Industrial Units' Accrued Rights.

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Full Text of the Document

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....Power of the State to rescind the notification with retrospective effect - doctrine of promissory estoppel - The question of future revenue loss would not arise as the industrial units established in the neighbouring States would not be eligible to avail of the rebate because of rescinding the earlier notification. - The notification dated 14th October, 2004 cannot be construed as having retrospective or retroactive effect to whittle down the accrued rights in favour of such industrial units.....