Tax liability timing clarified: declare liability by the tax period containing project completion or first occupation. Amendment replaces 'in whose case the liability to' with ', who shall' and redefines the trigger for tax liability so that the tax is to be recognized in a 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 the date of its first occupation, whichever is earlier, falls.
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Provisions expressly mentioned in the judgment/order text.
Tax liability timing clarified: declare liability by the tax period containing project completion or first occupation.
Amendment replaces "in whose case the liability to" with ", who shall" and redefines the trigger for tax liability so that the tax is to be recognized in a 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 the date of its first occupation, whichever is earlier, falls.
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