Formula One Racing Income Taxable In India: SC [Read Judgment]

Formula One World Championship had the permanent establishment in India, the bench said.In a major victory for the Tax department, the Supreme Court has upheld a Delhi High Court ruling, which had held that Formula One World Championship (FOWC) had a permanent establishment (PE) in India and, therefore, the income accrued will be taxable in India.It was in December, 2016 a division bench...