Indian Supreme Court Halts Capital Gains Tax Treaty Ruling

India’s Supreme Court on Friday stayed a lower court order that relieved an investment firm of tax liabilities from a sale of shares to Walmart.

The top court halted the order issued by the Delhi High Court in August exempting Tiger Global International of capital gains tax under the India-Mauritius Double Tax Avoidance Agreement.

• “The issues raised in this petition require thorough consideration,” the apex court said in its order Friday. “In the meantime, the impugned judgment & order passed by the high court shall remain stayed from its operation, implementation and execution,” it said.
• The lower court ruled ...