23 Sep 2026
Tiger Global’s tax ruling casts pall on India’s buyout sector
19 Jan 2026
19 Jan 2026
This is a link-enhanced version of an article that first appeared in The Economic Times
Article Overview:
The Supreme Court overturned a lower court ruling that allowed Tiger Global to claim exemptions on the sale based on a tax treaty with Mauritius. The Supreme Court’s verdict raises tax uncertainty for foreign investors. A lot of experts believe this decision marks a significant shift in India’s tax treaty jurisprudence as it allows tax authorities to look past administrative assurances and reassess the commercial substance of long-standing investment structures.
Our Partner, Himanshu Sinha, Tax, shared his perspective. Here’s what he had to say:
“Many old investments made through Mauritius shell entities will mature now. These investments will find it difficult to claim the protection of beneficial provisions under the treaty.”
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