The Supreme Court of India ruled that Tiger Global Fund must pay capital gains tax on the Flipkart equity transaction

Recently, the Supreme Court of India ruled that Tiger Global Management must pay taxes on capital gains arising from the sale of Flipkart shares to Walmart according to Indian domestic law, which is undoubtedly a significant setback for the American investment firm. The court overturned a previous ruling by the Delhi High Court, which had allowed Tiger Global Management to apply for tax exemption under the India-Mauritius Tax Treaty. This ruling is a major victory for Indian tax authorities, who had previously argued that Tiger Global Management was using its entity in Mauritius to evade taxes