CosmicTaco

Delhi HC Overturns AAR Ruling, Grants Tax Relief to Tiger Global in Flipkart Deal

CosmicTaco · 2024-08-30T11:31:39.601756+05:30

- Delhi HC overturns AAR order, allows Tiger Global tax exemption under India-Mauritius DTAA for 2018 Flipkart exit - Ruling brings relief to foreign investors who used Mauritius entities to invest in Indian firms before April 2017 - Court upholds 'grandfathering' provision, exempting pre-April 2017 investments from capital gains tax - HC rejects claims that Tiger Global's Mauritius entities lacked substance, citing pooled investments and expenses - Decision overturns AAR and I-T department arguments, affirming legitimacy of Tiger Global's tax exemption claim Source: [Inc42](https://inc42.com/buzz/relief-for-tiger-global-as-delhi-hc-overturns-aar-ruling-on-flipkart-deal/)

Delhi HC overturns AAR order, allows Tiger Global tax exemption under India-Mauritius DTAA for 2018 Flipkart exit
Ruling brings relief to foreign investors who used Mauritius entities to invest in Indian firms before April 2017
Court upholds 'grandfathering' provision, exempting pre-April 2017 investments from capital gains tax
HC rejects claims that Tiger Global's Mauritius entities lacked substance, citing pooled investments and expenses
Decision overturns AAR and I-T department arguments, affirming legitimacy of Tiger Global's tax exemption claim

Source: Inc42