{"id":362,"date":"2018-01-21T18:22:24","date_gmt":"2018-01-21T18:22:24","guid":{"rendered":"http:\/\/www.wakilsahab.in\/news\/?p=362"},"modified":"2018-01-21T18:22:24","modified_gmt":"2018-01-21T18:22:24","slug":"formula-one-income-taxable-in-india-says-supreme-court","status":"publish","type":"post","link":"https:\/\/www.wakilsahab.in\/news\/formula-one-income-taxable-in-india-says-supreme-court\/","title":{"rendered":"Formula One income taxable in India, says Supreme Court"},"content":{"rendered":"<p>Source &#8211;<strong> indiatimes.com<\/strong><\/p>\n<p>NEW DELHI: The Supreme Court said the Formula One motor racing championship had a permanent establishment in India, making income generated taxable in the country, marking a key victory for the tax department. The decision is seen as having wide implications for foreign companies that do business in the country.<\/p>\n<p>The apex court upheld a high court ruling that had overturned a decision by the Authority for Advance Rulings. The ruling by a division bench led by justice AK Sikri held that Formula One had a permanent establishment in India and income attributable to it was liable to taxation. It mandated the assessing officer to determine the income attribution.<\/p>\n<p>The case was argued by attorney general Mukul Rohtagi along with special counsel GC Srivastava, DL Chidananda and others.<\/p>\n<p>Srivastava said the order has ramifications that stretch beyond India.<\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.wakilsahab.in\/news\/formula-one-income-taxable-in-india-says-supreme-court\/\"\n\t\t\t  \tdata-numposts = \"5\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground:  !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 100% !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Source &#8211; indiatimes.com NEW DELHI: The Supreme Court said the Formula One motor racing championship had a permanent establishment in India, making income generated taxable in the country, marking a key victory for the tax department. The decision is seen as having wide implications for foreign companies that do business in the country. The apex [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[844,128,7],"class_list":["post-362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-formula-one-income","tag-india","tag-supreme-court"],"_links":{"self":[{"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/posts\/362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/comments?post=362"}],"version-history":[{"count":1,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/posts\/362\/revisions"}],"predecessor-version":[{"id":1676,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/posts\/362\/revisions\/1676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/media\/1674"}],"wp:attachment":[{"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/media?parent=362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/categories?post=362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wakilsahab.in\/news\/wp-json\/wp\/v2\/tags?post=362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}