Lakshmi Kumaran & Sridharan AttorneysAn ISO 9001 / 27001 certified law firm

PROMISSORY ESTOPPEL: LAST HOPE FOR FADING EXCISE EXEMPTIONS?

“When one person has, by his declaration, act or omission, intentionally caused or permitted another person to believe a thing to be true and to act upon such belief, neither he nor his representative shall be allowed, in any suit or proceeding between himself and such person or his representative, to deny the truth of that thing.” [Section 115, Indian Evidence Act]

‘Promissory Estoppel’, as an equitable principle, has been in vogue in judicial systems for long. Intended to counter the evading tendencies and insist upon parties to perform the promises made, the principle of promissory estoppel relieves the parties aggrieved from such breach of promises. The embodiment of this equitable principle in Section 115 is a reflection of legislative despise for such inequitable conduct and its intent to enforce all such retracted promises.

Download . Size:106.56 kb


(Mr. Tarun Jain is a Consultant, Lakshmi Kumaran & Sridharan, New Delhi)
Search People
Search People
Alphabetical by First Name
A|B|C|D|E|F|G|H|I|J
K|L|M|N|O|P|Q|R|S|T
U|V|W|X|Y|Z
Enter at least a name or a keyword to search