Tax liability timing clarified: liability arises in the tax period containing issuance of completion certificate or first occupation. Amendment replaces identification of the liable person with the words 'who shall' and revises timing of liability to require accounting 'in the tax period not later than the tax period in which the date of issuance of the completion certificate for the project, where required, by the competent authority or date of its first occupation, whichever is earlier, falls,' thereby fixing the tax period for recognising liability as the period containing the completion certificate date or first occupation.
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Provisions expressly mentioned in the judgment/order text.
Tax liability timing clarified: liability arises in the tax period containing issuance of completion certificate or first occupation.
Amendment replaces identification of the liable person with the words "who shall" and revises timing of liability to require accounting "in the tax period not later than the tax period in which the date of issuance of the completion certificate for the project, where required, by the competent authority or date of its first occupation, whichever is earlier, falls," thereby fixing the tax period for recognising liability as the period containing the completion certificate date or first occupation.
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