The Supreme Court of India rules that Tiger Global Fund must pay capital gains tax on Flipkart equity transactions.

Recently, the Supreme Court of India ruled that Tiger Global Fund must pay capital gains tax in India for selling its stake in Flipkart to Walmart, which is undoubtedly a major setback for the American investment company. The court overturned the previous decision of the Delhi High Court, which had allowed Tiger Global Fund to claim tax exemption under the India-Mauritius tax treaty. This ruling is a significant victory for the Indian tax authorities, who have been arguing that Tiger Global Fund was using its entity in Mauritius to avoid taxes.