Augustan Textile Colours Limited (Now ... vs Director Of Industries

The Supreme Court addressed the issue of whether a tax exemption granted under the Sick Industrial Companies Act, 1985 could be revoked by a subsequent government order. The court held that the tax exemption was integral to the revival process of the sick industrial unit and could not be withdrawn retrospectively. Consequently, the court ruled in favor of the appellant, affirming their entitlement to the tax benefits as initially granted.