Tiger Global moves High Court seeking stay against Flipkart-Walmart deal tax ruling
Tiger Global Monday moved the Delhi High Court seeking a stay against an order that had termed the private equity investor's stake sale in Flipkart to US retail major Walmart in 2018 for Rs 14,500-crore, as prima facie designed to avoid tax.
According to people familiar with the matter, Tiger Global International IV Holdings has filed an appeal in the Delhi High Court where it has sought an injunction against a Mumbai Authority of Advance Rulings' order issued in March this year. It has also asked that income tax authorities should not take coercive action – which in this case would be raising a demand – against the company basis the order.
The Delhi High Court will hear the matter on Tuesday, September 22.