Flipkart Co-Founder Binny Bansal Faces Tax Denial on $76M Share Transaction
On January 9, 2026, the Income Tax Appellate Tribunal (ITAT) in Bengaluru made a big decision. The tribunal ruled that Flipkart co-founder Binny Bansal does not qualify as a non-resident for Indian tax purposes. Because of this, he was denied tax relief on gains from a large share sale worth about $76 million under the India-Singapore tax treaty.
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