https://www.taxtmi.com/caselaws?id=418503 The High Court of Gujarat ruled that the Tax Appeal filed by the Revenue in 2013 did not survive due to the abatement caused by the NCLT order approving a Resolution Plan under the Insolvency and Bankruptcy Code, 2016. The Court found that the 2019 amendment to Section 31 of the Insolvency and Bankruptcy Code, which clarified the inclusion of governmental entities as stakeholders, had retrospective effect, extinguishing claims not part of a resolution plan. The Court disposed of the appeal, reserving liberty for the Revenue to appeal under Section 61 of the Insolvency and Bankruptcy Code if dissatisfied with the Resolution Plan sanctioned by the NCLT. en-us Mon, 24 Jan 2022 00:00:00 +0530 Fri, 18 Feb 2022 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418503 The High Court of Gujarat ruled that the Tax Appeal filed by the Revenue in 2013 did not survive due to the abatement caused by the NCLT order approving a Resolution Plan under the Insolvency and Bankruptcy Code, 2016. The Court found that the 2019 amendment to Section 31 of the Insolvency and Bankruptcy Code, which clarified the inclusion of governmental entities as stakeholders, had retrospective effect, extinguishing claims not part of a resolution plan. The Court disposed of the appeal, reserving liberty for the Revenue to appeal under Section 61 of the Insolvency and Bankruptcy Code if dissatisfied with the Resolution Plan sanctioned by the NCLT. Case-Laws Income Tax Mon, 24 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418503