TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether GST demands and show-cause proceedings for periods preceding approval of the resolution plan could be sustained after the resolution plan had been approved under the Insolvency and Bankruptcy Code, 2016.
Analysis: Approval of the resolution plan operates to bind all stakeholders and to bring finality to claims that ought to have been lodged in the insolvency process. Once the resolution plan is approved, a successful resolution applicant is entitled to take over the corporate debtor on a clean slate, and fresh or belated demands for pre-approval periods cannot be enforced if they were not part of the approved plan. Proceedings that would create new liabilities after approval of the resolution plan are inconsistent with that settled position and cannot be allowed to survive.
Conclusion: The GST assessment order and the show-cause notice for the pre-resolution periods were quashed, and the challenge succeeded in favour of the assessee.
Final Conclusion: Pre-resolution tax liabilities not forming part of the approved resolution plan cannot be enforced after approval of the plan, and the impugned proceedings were set aside.
Ratio Decidendi: After approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016, pre-existing claims not included in the plan stand extinguished and cannot be pursued by way of fresh or belated proceedings against the corporate debtor.
TaxTMI 
TaxTMI 
