India court rules against Tiger Global in 2018 Walmart deal tax case

Dispute relates to how the U.S. investment firm used the India–Mauritius tax treaty to claim tax exemptions and New Delhi's fierce objections to it

  • PUBLISHED: Thu 15 Jan 2026, 4:22 PM
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India's top court has ruled that Tiger Global's $1.6 billion stake sale in Indian e-commerce firm Flipkart to Walmart in 2018 is subject to taxes, handing a win to New Delhi in a landmark ruling on use of international tax treaties by companies.

Keenly watched by foreign investors, the legal dispute relates to how the U.S. investment firm used the India–Mauritius tax treaty to claim tax exemptions and New Delhi's fierce objections to it. The ruling will have implications for how India applies tax principles in cross-border deals.