JP and F4WC v. India on a 40 Million Dollar Race Promotion Contract

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JP and F4WC wanted a total tax exemption on the contract. The high court though, reversed both rulings by the AAR. It didn't think this was royalty income. Instead, it believed the real question was whether this was business income. And even though it had no physical office, in the end, the honorable court concluded that all monies earned by F4WC must be taxed at source in India.

If you’ve been keeping up with the news, you may have heard of MotoGP Bharat ― India’s motorcycling Grand Prix making some noise in the headlines. It’s going to be the first motorsport event with all the pomp and show in nearly a decade at Delhi’s Buddh International Circuit since the exit of Formula One racing in India.

So in today’s episode for 1st August 2022, we go back in time and find out what went wrong with India’s F1 Grand Prix.

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