https://www.taxtmi.com/caselaws?id=424716 The Tribunal held that the Revenue is bound by the resolution plan accepted by the NCLT, extinguishing all pre-existing claims of the corporate debtor. The Revenue's appeals were partly allowed, and the assessee's Cross Objection was dismissed. The decision emphasizes the binding nature of the NCLT's resolution plan, overriding other considerations and clarifying that claims not included in the plan are extinguished. en-us Mon, 04 Jul 2022 00:00:00 +0530 Thu, 07 Jul 2022 09:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424716 The Tribunal held that the Revenue is bound by the resolution plan accepted by the NCLT, extinguishing all pre-existing claims of the corporate debtor. The Revenue's appeals were partly allowed, and the assessee's Cross Objection was dismissed. The decision emphasizes the binding nature of the NCLT's resolution plan, overriding other considerations and clarifying that claims not included in the plan are extinguished. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424716