SC Rules Against Tiger Global In Flipkart Capital Gains Case

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SUMMARY

SC upheld the tax department’s claim that capital gains made on Tiger Global’s $1.6 Bn sale of Flipkart shares to Walmart were taxable in India

The investor had argued that it was not liable to pay capital gains tax on its returns from the Flipkart stake sale under the DTAA signed between India and Mauritius

Tiger Global had invested in Flipkart through a Mauritius entity, a move seen by Indian authorities as being solely for tax-saving purposes

In a major setback for US-based Tiger Global, the Supreme Court has…



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SC Rules Against Tiger Global In Flipkart Capital Gains Case


SUMMARY

SC upheld the tax department’s claim that capital gains made on Tiger Global’s $1.6 Bn sale of Flipkart shares to Walmart were taxable in India

The investor had argued that it was not liable to pay capital gains tax on its returns from the Flipkart stake sale under the DTAA signed between India and Mauritius

Tiger Global had invested in Flipkart through a Mauritius entity, a move seen by Indian authorities as being solely for tax-saving purposes

In a major setback for US-based Tiger Global, the Supreme Court has…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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