Indian Grand Prix to go on despite tax challenge
Support crew of team Red Bull gather during the media preview of the Buddh International Circuit on October 18, 2011 in Greater Noida, India. India’s first F1 race is scheduled to take place on October 30, 2011.
India’s Supreme Court ruled Friday that the upcoming Indian Grand Prix Formula One race can go ahead, despite a pending challenge to a tax exemption granted Jaypee Sports International Limited by the government of Uttar Pradesh, the Times of India reports.
A bench of justices DK Jain and AR Dave directed Japee Sports to deposit 25% of the ticket revenue from the race in a separate account pending a final judgement on the validity of an entertainment tax exemption granted by Uttar Pradesh, the paper said.
The court rejected the arguments of the organizers that the direction would act as a dampener and cause adverse publicity since it was an international event.
The Indian Grand Prix is scheduled to take place at the recently unveiled Buddh International Circuit in Greater Noida — a suburb of Delhi located in the neighboring state of Uttar Pradesh — on Oct. 30.
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