State’s Power to Withdraw Electricity Duty Exemption Upheld, One-Year Relief Granted to Industries: Supreme Court
The Supreme Court of India delivered a crucial judgment balancing State policy powers and industrial interests, holding that tax exemptions can be withdrawn but not abruptly. The ruling ensures fairness by mandating a transition period for industries affected by such policy changes. Background of the Case The case arose from disputes between the State of Maharashtra and industries including Reliance Industries Ltd. regarding electricity duty exemptions granted under the Bombay…
