India to Start Tax Recovery on Tiger Global $1.6B Gain: Official

India’s revenue department will revive proceedings against Tiger Global, a finance ministry official said Friday, after the Supreme Court ruled the US investment firm’s capital gains arising from its 2018 stake sale in Flipkart to Walmart Inc. was taxable under domestic law.

• Tiger Global sold a substantial portion of its stake for billions of dollars and the finance ministry official said the “exit resulted in significant capital gains, with the aggregate consideration received exceeding 145 billion rupees ($1.6 billion)”
• The official spoke on condition of anonymity as the person was not authorized to speak to the press
• A finance ministry ...