[proofplan]
The projective map is controlled locally by ratios of sections. Near a point where a section $s_0$ does not vanish, the affine coordinates of $\Phi_V$ are the functions $s_j/s_0$, so injectivity is exactly separation of points and injectivity of the differential is exactly separation of tangent vectors. Once injectivity and immersion are established, compactness of $X$ upgrades the injective holomorphic immersion into a holomorphic embedding by the standard topological and local holomorphic inverse-function arguments.
[/proofplan]
[step:Express the projective map in affine coordinates by ratios of sections]
Let $r=\dim_{\mathbb{C}}V-1$, and choose a complex basis $s_0,\dots,s_r$ of $V$. Let $x \in X$. Since $V$ is base point free, after reordering the basis if necessary we may assume $s_0(x)\neq 0$.
Choose an open neighbourhood $U \subset X$ of $x$ such that $s_0$ has no zero on $U$, and choose a holomorphic local trivialisation
\begin{align*}
\tau: L|_U &\to U \times \mathbb{C}.
\end{align*}
For each $j \in \{0,\dots,r\}$, define the [holomorphic function](/page/Holomorphic%20Function)
\begin{align*}
f_j: U &\to \mathbb{C}
\end{align*}
by the identity $\tau(s_j|_U)=(\cdot,f_j)$. Since $f_0$ has no zero on $U$, define
\begin{align*}
g_j: U &\to \mathbb{C} \\
z &\mapsto \frac{f_j(z)}{f_0(z)}
\end{align*}
for $j=1,\dots,r$.
On the affine chart of $\mathbb{P}(V^*)$ where the coordinate dual to $s_0$ is nonzero, the map $\Phi_V$ is represented by
\begin{align*}
\Phi_V|_U(z) = \bigl(g_1(z),\dots,g_r(z)\bigr).
\end{align*}
Indeed, under the basis $s_0,\dots,s_r$, the functional $\operatorname{ev}_z$ is represented up to the common scalar determined by the trivialisation by
\begin{align*}
(f_0(z),f_1(z),\dots,f_r(z)),
\end{align*}
and division by the nonzero first coordinate gives the affine coordinates above.
[guided]
The map $\Phi_V$ sends a point $z \in X$ to the projective class of the evaluation functional at $z$. To compute it locally, we choose a basis $s_0,\dots,s_r$ of $V$ and a local trivialisation of the line bundle. In that trivialisation, each section $s_j$ becomes an ordinary holomorphic function
\begin{align*}
f_j: U &\to \mathbb{C}.
\end{align*}
Because $V$ is base point free, some section in $V$ does not vanish at the chosen point $x$. We put that section first and call it $s_0$. Shrinking the neighbourhood $U$ if necessary, $s_0$ remains nonvanishing on $U$, so $f_0(z)\neq 0$ for every $z \in U$.
Projective space is described locally by affine charts. In the chart where the first homogeneous coordinate is nonzero, the projective class
\begin{align*}
[f_0(z):f_1(z):\cdots:f_r(z)]
\end{align*}
has affine coordinates
\begin{align*}
\left(\frac{f_1(z)}{f_0(z)},\dots,\frac{f_r(z)}{f_0(z)}\right).
\end{align*}
Thus the local expression of $\Phi_V$ is exactly the holomorphic map
\begin{align*}
z &\mapsto \bigl(g_1(z),\dots,g_r(z)\bigr),
\end{align*}
where $g_j=f_j/f_0$. This ratio description is the bridge between the projective geometry of sections and the differential geometry of the map $\Phi_V$.
[/guided]
[/step]
[step:Identify point separation with injectivity of $\Phi_V$]
For $x,y \in X$, define the evaluation maps
\begin{align*}
\operatorname{ev}_x: V &\to L_x, & \operatorname{ev}_y: V &\to L_y
\end{align*}
by $\operatorname{ev}_x(s)=s(x)$ and $\operatorname{ev}_y(s)=s(y)$. These maps are nonzero because $V$ is base point free. Choosing nonzero linear identifications $L_x\cong\mathbb{C}$ and $L_y\cong\mathbb{C}$ turns them into nonzero elements of $V^*$; changing either identification multiplies the corresponding element of $V^*$ by a nonzero scalar, so the induced projective point and the kernel in $V$ are independent of the choices. Hence $\Phi_V(x)=\Phi_V(y)$ holds exactly when
\begin{align*}
\ker(\operatorname{ev}_x)=\ker(\operatorname{ev}_y).
\end{align*}
Therefore $\Phi_V$ is injective if and only if, for every $x\neq y$, one has
\begin{align*}
\ker(\operatorname{ev}_x) \neq \ker(\operatorname{ev}_y),
\end{align*}
which is precisely the condition that $V$ separates points.
[guided]
We want to translate the condition that $\Phi_V$ is injective into a statement about sections. For each point $x \in X$, the evaluation map
\begin{align*}
\operatorname{ev}_x: V &\to L_x
\end{align*}
is a nonzero [linear map](/page/Linear%20Map) because $V$ is base point free. Since $L_x$ is one-dimensional, the projective point $\Phi_V(x)$ records the line spanned by this nonzero functional.
Two nonzero linear functionals on a finite-dimensional [vector space](/page/Vector%20Space) determine the same projective point if and only if they differ by multiplication by a nonzero scalar. This is equivalent to their kernels being equal: if $\lambda,\mu:V\to\mathbb{C}$ are nonzero and $\mu=c\lambda$ for some $c\in\mathbb{C}^\times$, then $\ker\lambda=\ker\mu$; conversely, if their kernels agree, both descend to nonzero linear maps from the one-dimensional quotient $V/\ker\lambda$ to $\mathbb{C}$, so they differ by a nonzero scalar.
Thus
\begin{align*}
\Phi_V(x)=\Phi_V(y)
\end{align*}
holds exactly when
\begin{align*}
\ker(\operatorname{ev}_x)=\ker(\operatorname{ev}_y).
\end{align*}
Consequently $\Phi_V$ is injective exactly when distinct points have distinct evaluation kernels, which is the stated point-separation condition.
[/guided]
[/step]
[step:Identify tangent separation with injectivity of the differential]
Fix $x \in X$ and $\xi \in T_xX$. Choose $s_0 \in V$ with $s_0(x)\neq 0$, extend it to a basis $s_0,\dots,s_r$ of $V$, and use the local notation $f_j$ and $g_j=f_j/f_0$ from the first step. The differential
\begin{align*}
d(\Phi_V)_x: T_xX &\to T_{\Phi_V(x)}\mathbb{P}(V^*)
\end{align*}
is represented in the chosen affine chart by
\begin{align*}
\xi &\mapsto \bigl(dg_{1,x}(\xi),\dots,dg_{r,x}(\xi)\bigr).
\end{align*}
For $j=1,\dots,r$, define a section
\begin{align*}
t_j := s_j - g_j(x)s_0 \in V.
\end{align*}
Then $t_j(x)=0$, and in the chosen trivialisation $t_j$ is represented by the holomorphic function
\begin{align*}
h_j: U &\to \mathbb{C} \\
z &\mapsto f_j(z)-g_j(x)f_0(z).
\end{align*}
Since $g_j=f_j/f_0$, the quotient rule at $x$ gives
\begin{align*}
dg_{j,x}(\xi)
&=
\frac{dh_{j,x}(\xi)}{f_0(x)}.
\end{align*}
Because $f_0(x)\neq 0$, the equality $dg_{j,x}(\xi)=0$ is equivalent to $dh_{j,x}(\xi)=0$.
Thus $d(\Phi_V)_x(\xi)=0$ if and only if every section $s\in V$ satisfying $s(x)=0$ has local representative $f_s$ with $df_{s,x}(\xi)=0$. Hence $d(\Phi_V)_x$ is injective if and only if $V$ separates tangent vectors at $x$.
[guided]
The local formula for $\Phi_V$ reduces the differential to the derivatives of the ratios $g_j=f_j/f_0$. We must connect those derivatives with sections that vanish at $x$, because tangent-vector separation is stated using such sections.
Choose $s_0\in V$ with $s_0(x)\neq 0$ and extend it to a basis $s_0,\dots,s_r$. In the affine chart determined by $s_0$, the map $\Phi_V$ is represented by
\begin{align*}
z &\mapsto \bigl(g_1(z),\dots,g_r(z)\bigr),
\end{align*}
where
\begin{align*}
g_j:U&\to\mathbb{C},\\
z&\mapsto \frac{f_j(z)}{f_0(z)}.
\end{align*}
Therefore $d(\Phi_V)_x(\xi)=0$ precisely when
\begin{align*}
dg_{j,x}(\xi)=0
\end{align*}
for every $j=1,\dots,r$.
Now define
\begin{align*}
t_j := s_j-g_j(x)s_0 \in V.
\end{align*}
This section vanishes at $x$, because in the trivialisation its representative is
\begin{align*}
h_j(z)=f_j(z)-g_j(x)f_0(z),
\end{align*}
and
\begin{align*}
h_j(x)=f_j(x)-\frac{f_j(x)}{f_0(x)}f_0(x)=0.
\end{align*}
Since $g_j=f_j/f_0$, differentiating at $x$ gives
\begin{align*}
dg_{j,x}(\xi)
&=
d\left(\frac{f_j}{f_0}\right)_x(\xi) \\
&=
\frac{df_{j,x}(\xi)f_0(x)-f_j(x)df_{0,x}(\xi)}{f_0(x)^2} \\
&=
\frac{d(f_j-g_j(x)f_0)_x(\xi)}{f_0(x)} \\
&=
\frac{dh_{j,x}(\xi)}{f_0(x)}.
\end{align*}
Because $f_0(x)\neq 0$, this vanishes exactly when $dh_{j,x}(\xi)=0$.
Every section $s\in V$ with $s(x)=0$ can be written as a linear combination of the sections $t_1,\dots,t_r$. Indeed, writing $s=\sum_{j=0}^r a_js_j$, the condition $s(x)=0$ implies
\begin{align*}
a_0f_0(x)+\sum_{j=1}^r a_jf_j(x)=0,
\end{align*}
so
\begin{align*}
a_0=-\sum_{j=1}^r a_j\frac{f_j(x)}{f_0(x)}=-\sum_{j=1}^r a_jg_j(x),
\end{align*}
and hence
\begin{align*}
s=\sum_{j=1}^r a_j(s_j-g_j(x)s_0)=\sum_{j=1}^r a_jt_j.
\end{align*}
Therefore the derivatives of all vanishing sections in the direction $\xi$ vanish if and only if all $dg_{j,x}(\xi)$ vanish. This proves that $d(\Phi_V)_x$ is injective exactly when $V$ separates tangent vectors at $x$.
[/guided]
[/step]
[step:Deduce the forward implication from the definition of embedding]
Assume $\Phi_V$ is a holomorphic embedding. Then $\Phi_V$ is injective, so by the previous point-separation equivalence, $V$ separates points. Also $d(\Phi_V)_x$ is injective for every $x\in X$, so by the tangent-separation equivalence, $V$ separates tangent vectors at every point of $X$.
Thus a holomorphic embedding implies both separation conditions.
[/step]
[step:Use the separation conditions to prove that $\Phi_V$ is an embedding]
Assume now that $V$ separates points and tangent vectors. By the point-separation equivalence, $\Phi_V$ is injective. By the tangent-separation equivalence, $d(\Phi_V)_x$ is injective for every $x\in X$, so $\Phi_V$ is a holomorphic immersion.
It remains to upgrade an injective holomorphic immersion to a holomorphic embedding. Since $X$ is compact and $\mathbb{P}(V^*)$ is Hausdorff, the continuous injective map
\begin{align*}
\Phi_V: X &\to \Phi_V(X)
\end{align*}
is a homeomorphism onto its image. Also, because $d(\Phi_V)_x$ is injective at every $x$, the rank of $d(\Phi_V)_x$ is constantly $\dim_{\mathbb{C}}X$ on $X$. Thus the holomorphic constant-rank local normal form for immersions applies around each $x\in X$ and gives holomorphic coordinates in which $\Phi_V$ is locally the standard inclusion of a complex coordinate subspace. Therefore $\Phi_V(X)$ is locally a complex submanifold of $\mathbb{P}(V^*)$, and $\Phi_V$ is locally biholomorphic from $X$ onto this image.
Combining the homeomorphism onto the image with the local holomorphic immersion normal form, $\Phi_V$ is a holomorphic embedding. This proves the reverse implication and completes the proof.
[guided]
We now assume the two separation conditions and prove that $\Phi_V$ is an embedding.
First, point separation says that distinct points have distinct evaluation kernels. By the equivalence already proved, this means $\Phi_V$ is injective. Second, tangent-vector separation says that for each nonzero $\xi\in T_xX$, some section vanishing at $x$ has nonzero derivative in the direction $\xi$. By the differential computation above, this means
\begin{align*}
d(\Phi_V)_x(\xi)\neq 0
\end{align*}
for every nonzero $\xi\in T_xX$. Hence
\begin{align*}
d(\Phi_V)_x:T_xX\to T_{\Phi_V(x)}\mathbb{P}(V^*)
\end{align*}
is injective for every $x\in X$, so $\Phi_V$ is a holomorphic immersion.
An embedding requires more than injectivity and injectivity of the differential: the map must also identify $X$ with its image as a complex submanifold. The global topological part comes from compactness. Since $X$ is compact and projective space is Hausdorff, the continuous injective map
\begin{align*}
\Phi_V:X\to \Phi_V(X)
\end{align*}
is a homeomorphism onto its image.
The local holomorphic part comes from the holomorphic constant-rank normal form for immersions (citing a result not yet in the wiki: Holomorphic Constant Rank Theorem). Let $n:=\dim_{\mathbb{C}}X$. Its hypotheses are satisfied because $\Phi_V$ is holomorphic and $d(\Phi_V)_x$ has constant rank equal to $n$ near each point. Therefore, for each $x\in X$, there are holomorphic coordinates near $x$ and near $\Phi_V(x)$ in which $\Phi_V$ is represented as
\begin{align*}
(z_1,\dots,z_n)\mapsto (z_1,\dots,z_n,0,\dots,0).
\end{align*}
In particular, the image is locally a complex submanifold and $\Phi_V$ is locally biholomorphic onto that image.
The global homeomorphism property and the local holomorphic normal form together say exactly that $\Phi_V$ is a holomorphic embedding. This proves the converse implication.
[/guided]
[/step]