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Doctrine of promissory estoppel - Determination of compensation ...


Supreme Court Uses Promissory Estoppel to Calculate Tax Exemption for Tourism Projects Under Incentive Scheme.

July 26, 2023

Case Laws     VAT and Sales Tax     SC

Doctrine of promissory estoppel - Determination of compensation against denial of extension of New Package Scheme of Incentives for Tourism Projects - A reasonable method of calculating benefit of tax exemption, for the purpose of considering (whether the 100% limit equivalent to capital expenditure) was reached or not is to notionally determine the tax amounts payable during the relevant period, when the multiplexes enjoyed tax exemption. - SC

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