Lease exemption condition: land use compliance required, with joint and several liability for state tax on violation. Exemption for long term leases is conditional on use for industrial or financial purposes, with State Government monitoring; any violation or change of land use renders the original lessor, original lessee and any subsequent lessee, buyer or owner jointly and severally liable to pay the state tax payable on the upfront lease amount, plus interest and penalty, and lease or sale agreements must disclose the exemption and bind parties to comply.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Lease exemption condition: land use compliance required, with joint and several liability for state tax on violation.
Exemption for long term leases is conditional on use for industrial or financial purposes, with State Government monitoring; any violation or change of land use renders the original lessor, original lessee and any subsequent lessee, buyer or owner jointly and severally liable to pay the state tax payable on the upfront lease amount, plus interest and penalty, and lease or sale agreements must disclose the exemption and bind parties to comply.
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