Formula 1 event: SC notice to UP govt on granting tax exemption

The Supreme Court today sought explanation from the Uttar Pradesh government for granting tax exemption to the company organising Formula 1 event in Greater NOIDA.

A bench headed by Justice DK Jain also issued notice to Jaypee Group, organiser of the sporting event, and asked them to file their response by Friday on why the event was given exemption from entertainment tax.

The court passed the order on a PIL challenging the state government decision to grant tax exemption to the event.

India's first Formula 1 event is scheduled to be held in Greater NOIDA, adjacent to the national capital, on October 30.