https://www.taxtmi.com/caselaws?id=291068 Complete liquidation under the Insolvency and Bankruptcy Code leads to dissolution once the liquidator's final report is filed and the statutory process is completed. In the liquidation waterfall, secured creditors who have relinquished security rank above Government tax dues, and state tax claims do not become secured claims merely because local law asserts a charge. Where liquidation sale of property is completed, the attachment or charge should be removed to give effect to the sale and peaceful possession should be handed to the purchaser. After dissolution of the corporate debtor, pending income-tax appeals with no surviving practical relief become infructuous. en-us Wed, 18 Dec 2019 00:00:00 +0530 Tue, 27 Oct 2020 10:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291068 Complete liquidation under the Insolvency and Bankruptcy Code leads to dissolution once the liquidator's final report is filed and the statutory process is completed. In the liquidation waterfall, secured creditors who have relinquished security rank above Government tax dues, and state tax claims do not become secured claims merely because local law asserts a charge. Where liquidation sale of property is completed, the attachment or charge should be removed to give effect to the sale and peaceful possession should be handed to the purchaser. After dissolution of the corporate debtor, pending income-tax appeals with no surviving practical relief become infructuous. Case-Laws Insolvency and Bankruptcy Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291068