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ARTICLE · 22 JULY 2020

Pitfall Of Double Tax Avoidance Agreement Between India And Mauritus Due To AAR

King, Stubb & Kasiva
King, Stubb & Kasiva
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King, Stubb & Kasiva

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The Authority of Advanced Ruling (AAR), New Delhi dismissed the petition in the case of Tiger Global International II Holdings, Mauritius & Ors (Petitioner),

IndiaTax
Abhishek Bagga
Abhishek Bagga
Mrinal Sharma
Mrinal Sharma
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The Authority of Advanced Ruling (AAR), New Delhi dismissed the petition in the case of Tiger Global International II Holdings, Mauritius & Ors1 (Petitioner), for the tax exemption on the capital gains, arouse due to sale of its Mauritius shares of Flipkart to Walmart on the ground of the arrangements done on behalf of the petitioner just to avoid tax under the Double Tax Avoidance Agreement(DTAA).

Background

Tiger Global Management LLC is a U.S based private equity firm incorporated in Mauritius. The company was incorporated with the primary objective of undertaking investment activities with the intention of earning long term capital appreciation and investment. The applicant invested in shares of Flipkart Private Limited (Singapore) between the period of October 2011 to April 2015. In 2018, the company sold its 16,243,010 shares of Flipkart (Singapore) to the Luxembourg entity. So, in the matter of the aforesaid transfer of shares, the petitioners, under

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