The Supreme Court of India ruled against Tiger Global’s Mauritius-based entities, holding that capital gains from exit from Flipkart shares are taxable. It overturned the Delhi High Court’s 2023 decision, restored the AAR’s approach, and reaffirmed anti-avoidance principles and substance-over-form. The ruling significantly impacts treaty-based structures using Mauritius residency, TRCs, and grandfathering under the India–Mauritius DTAA.
Global Partner. Integrated Solutions.