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of <h1>Tiger Global's 2018 sale of Flipkart shares taxed in India as DTAA Article 13(4) exemption denied</h1> The Supreme Court affirmed that capital gains arising from Tiger Global's 2018 exit from Flipkart are taxable in India, holding that where the transfer of unlisted equity shares occurred pursuant to an arrangement impermissible under law the assessees cannot claim exemption under Article 13(4) of the DTAA; operative effect: denial of DTAA-based exemption and upholding Indian tax demand. The AAR and the court found the group structure constituted intermediaries with actual control lying outside Mauritius, negating residence-based treaty protection and supporting attribution of taxable capital gains to India.
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