In a major setback for U.S.-based investment giant Tiger Global, the Supreme Court of India has ruled that the company must pay taxes in India on the capital gains earned when it exited Flipkart in 2018. The apex court overturned a Delhi High Court decision from August 2024, which had favored Tiger Global and dismissed the tax claim.
Background of the Case
Tiger Global had sold its $1.6 billion stake in Flipkart to Walmart in 2018. The dispute arose because the company had initially acquired Flipkart shares in Singapore between October 2011 and April 2015 and later transferred them to a Luxembourg-based entity, Fit Holdings SARL. When Walmart acquired a significant stake in Flipkart, Tiger Global exited the investment.
Supreme Court’s Verdict
A bench comprising **Justices J.B. Pardiwala and
Discover more from SD NEWS agency
Subscribe to get the latest posts sent to your email.