https://www.taxtmi.com/news?id=67636 The indirect transfer of Flipkart shares by Mauritius entities is taxable in India; the entities were treated as interposed with limited substance and the arrangement as structured to obtain treaty benefits invoking treaty abuse. Withholding at reduced rates led to TDS of about Rs 967.52 crore, and refunds were withheld pending determination. A legal ruling held that possession of a Tax Residency Certificate does not bar inquiry into conduit status and confirmed impermissible avoidance, directing Assessing Officers to complete assessments and address withheld refunds through consequential demand proceedings. en-us Fri, 16 Jan 2026 21:16:04 +0530 Fri, 16 Jan 2026 21:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=67636 The indirect transfer of Flipkart shares by Mauritius entities is taxable in India; the entities were treated as interposed with limited substance and the arrangement as structured to obtain treaty benefits invoking treaty abuse. Withholding at reduced rates led to TDS of about Rs 967.52 crore, and refunds were withheld pending determination. A legal ruling held that possession of a Tax Residency Certificate does not bar inquiry into conduit status and confirmed impermissible avoidance, directing Assessing Officers to complete assessments and address withheld refunds through consequential demand proceedings. News - Fri, 16 Jan 2026 21:16:04 +0530 https://www.taxtmi.com/news?id=67636