Doctrine of Promissory Estoppel

Withdrawal of exemptions to SEZs cannot be treated as a breach of Doctrine of Promissory Estoppel

Mindtree Limited vs. UOI (Karnataka High Court) CLR Editorial Notes: As a corollary to the Special Economic Zones Act, 2005 (˜SEZ Act™), section 115JB(6) and section 115-O (6) were inserted to ensure that the SEZs are exempted from paying Minimum Alternate Tax (MAT) on book profits and taxes on distributed profits [Dividend Distribution Tax ("DDT")].… Read More

Tags: DDTDividend Distribution TaxDoctrine of Legitimate ExpectationDoctrine of Promissory EstoppelEstoppelFinance ActGovernmentMinimum Alternate TaxSection 115-O (6)Section 115JB(6)SEZSpecial Economic ZoneSpecial Economic Zones ActUnited States

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