Case Law Details
Case Name : Mindtree Limited Vs Union of India (Karnataka High Court)
Related Assessment Year :
Courts :
All High Courts Karnataka High Court
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Issue– Petitioners have prayed to declare the newly inserted proviso to Section 115JB(6) and 115-O(6) of the Income Tax Act in the second schedule to the Special Economic Zones Act 2005 as ultra vires, arbitrary, unfair and violative of Article 14 of Constitution of India.
Held- Legislature can never be precluded from exercising its legislative power by resort to the Doctrine of Promissory Estoppel. Since it is an equitable doctrine, it must yield when equity so requires. The courts would decline to enforce this doctrine if it results in great hardship to government and would be prejud...
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Great Judgement!!! In simple terms this is what the Judgement says “The Government of India will make a lot of false promises, and we just have learn to live with it”.