Supreme Court says Tiger Global owes tax on Flipkart deal
The Supreme Court just ruled that Tiger Global, a big US investment firm, has to pay capital gains tax on its $1.6 billion sale of Flipkart shares to Walmart back in 2018.
The judges didn't buy Tiger Global's argument about being exempt under the India-Mauritius tax treaty and endorsed the tax authorities' assessment that the Mauritius-based entities were "conduit companies" with no real business there.
Why should you care?
This decision is a big deal for anyone following global investing in India.
It means foreign investors can't just use offshore setups or residency certificates to dodge Indian taxes anymore—actual business operations matter.
The ruling could make foreign funds think twice before cashing out of Indian startups, and it puts India's tax authorities in a stronger spot when dealing with international deals.