The Supreme Court today cleared the decks for the Formula 1 race in Greater Noida, stipulating that the organisers would deposit 25% of sale proceeds from tickets in a separate account which would not be operated without its permission.
A bench of justices DK Jain and AR Dave in an interim order directed that the amount would be subject to the final outcome of a plea challenging tax exemptions accorded to the organisers of the Formula 1 race.
The apex court rejected the arguments of the organisers that the direction would act as a dampener and cause adverse publicity since it was an international event.
"How can it be a dampener or cause adverse publicity we do not understand?," the bench remarked while passing the order.
Delhi International Airport Limited (DIAL), today claimed that the capital's International airport has become the first airport in the world to ...
It also recommended that the state should focus on raising revenue without widening the tax net and simplifying the tax procedures