Tata Iron & Steel Co. Ltd vs Union Of India & Ors

The Supreme Court addressed the interpretation of the International Price Reimbursement Scheme (IPRS) introduced by the Government of India, emphasizing the doctrine of estoppel by conduct. The Court held that the reimbursement mechanism under the IPRS is designed to protect exporters from the disparity between domestic and international steel prices, as outlined in Clauses 2.4, 2.5, 2.7, and 2.8 of the Scheme. The judgment clarified the procedural requirements for reimbursement applications and upheld the validity of the Scheme, affirming the High Court's decision.