India introduced an anti-tax avoidance regulation GAAR (General Anti Avoidance Rule) from April 1, 2017, which can override the tax treaty benefits under DTAA. Tiger Global’s investment took place in 2011 but the stake sale took place in 2018, after GAAR came into vogue. Potency of TRCThe apex court also rejected that a tax residency certificate (TRC), which the Tiger Global Mauritius entities had, is conclusive proof of entitlement to treaty benefits. “Simply obtaining a TRC from a foreign jurisdiction will no longer guarantee protection under a tax treaty. “Even though a setback, the judgment may not weaken the appeal of India as an FDI destination,” she argued.

Source: The Telegraph January 17, 2026 10:15 UTC