New Delhi, Jan. 15 -- The Supreme Court on Thursday allowed the Revenue authorities' appeals and set aside the Delhi High Court's 2024 judgment that had granted capital gains tax exemption to Tiger Global's Mauritius-based entities, holding that the transactions constituted impermissible tax-avoidance arrangements and were taxable in India.

A Bench of Justices R Mahadevan and J B Pardiwala held that the Revenue authorities had successfully established that the transfer of shares by Tiger Global International II, III and IV Holdings Mauritius entities was carried out pursuant to an arrangement lacking commercial substance and designed primarily to obtain treaty benefits under the India-Mauritius Double Taxation Avoidance Agreement (DTAA)....