https://www.taxtmi.com/caselaws?id=423443 The Rajasthan HC noted that a resolution plan approved under Section 31 of the Insolvency and Bankruptcy Code, 2016 binds all stakeholders, including statutory creditors, and extinguishes claims not included in the plan. On that basis, pre-transfer tax demands against the corporate debtor for the period before approval of the resolution plan could not be enforced by the Commercial Taxes Department. Amounts deposited under protest and by way of mandatory pre-deposit in the extinguished proceedings were treated as following the same consequence as the underlying demands, and were held refundable to the successful resolution applicant with applicable interest. en-us Sat, 07 May 2022 00:00:00 +0530 Mon, 06 Jun 2022 20:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423443 The Rajasthan HC noted that a resolution plan approved under Section 31 of the Insolvency and Bankruptcy Code, 2016 binds all stakeholders, including statutory creditors, and extinguishes claims not included in the plan. On that basis, pre-transfer tax demands against the corporate debtor for the period before approval of the resolution plan could not be enforced by the Commercial Taxes Department. Amounts deposited under protest and by way of mandatory pre-deposit in the extinguished proceedings were treated as following the same consequence as the underlying demands, and were held refundable to the successful resolution applicant with applicable interest. Case-Laws Insolvency and Bankruptcy Sat, 07 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423443