The Supreme Court of India held that State governments may withdraw tax exemptions in public interest, observing such fiscal benefits are concessions that can be modified or rescinded when required for broader public welfare considerations.
The Supreme Court questioned SEBI for not closing its investigation against the Sandesara brothers despite its earlier order to end proceedings after payment of ₹5,100 crore. The Court asked why the regulator was “coming in the way” when the payment condition had already been fulfilled.
