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