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Tiger Global Moves Delhi HC Against Flipkart Double Tax Ruling
New York-based private equity (PE) investor Tiger Global, on Monday (September 21), moved to the Delhi high court against the Authority of Advance Ruling (AAR) ruling, which denied the company of grandfather provision benefits under the India-Mauritius Double Tax Avoidance Agreement after the Flipkart exit in 2018.
The matter is listed to be heard today (September 22). People close to the matter told Mint that the AAR has not looked into all the aspects of the deal, before denying treaty benefits to Tiger Global. “There is enough substance and decision making in the deal structure to get India-Mauritius treaty benefits,” the person added, seeking anonymity.
Tiger Global had invested in Flipkart through Mauritius-based Tiger Global International II, III and IV Holdings. Later in 2018, it had sold its stake in Flipkart’s Singapore-based entity to Walmart’s Luxembourg entity FIT Holdings for over INR 14,500 Cr in 2. After the deal, Tiger Global had sought tax exemptions on capital gains with the income tax department under Section 197 of the Income Tax Act. However, the department had rejected the application.
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Haryana
Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024
Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.
The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.
Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.
With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.
The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.
Weather and AQI predictions in Delhi for next 7 days:
Date Temperature Sky October 23, 2024 32.93 °C Sky is clear October 24, 2024 32.69 °C Sky is clear October 25, 2024 32.5 °C Sky is clear October 26, 2024 32.07 °C Sky is clear October 27, 2024 30.69 °C Sky is clear October 28, 2024 31.29 °C Sky is clear October 29, 2024 32.09 °C Sky is clear
Weather in other cities on October 22, 2024
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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024
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