https://www.taxtmi.com/caselaws?id=439230 The Tribunal held that the Income Tax Department cannot issue Section 148 notices post-approval of the Resolution Plan under the Insolvency and Bankruptcy Code. The Resolution Plan, once approved, binds all stakeholders, extinguishing claims not included in the plan. Relying on the Supreme Court's ruling, the Tribunal dismissed the Revenue's appeals, emphasizing the Resolution Plan's precedence over income tax dues not part of the plan, ensuring finality and enforceability of the plan. The decision underscores the IBC's overriding effect on statutory claims. en-us Wed, 23 Nov 2022 00:00:00 +0530 Mon, 19 Jun 2023 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439230 The Tribunal held that the Income Tax Department cannot issue Section 148 notices post-approval of the Resolution Plan under the Insolvency and Bankruptcy Code. The Resolution Plan, once approved, binds all stakeholders, extinguishing claims not included in the plan. Relying on the Supreme Court's ruling, the Tribunal dismissed the Revenue's appeals, emphasizing the Resolution Plan's precedence over income tax dues not part of the plan, ensuring finality and enforceability of the plan. The decision underscores the IBC's overriding effect on statutory claims. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439230