https://www.taxtmi.com/caselaws?id=439232 The Tribunal dismissed the assessee's appeals against the orders of the Commissioner of Income Tax (Appeals) due to the approval of the resolution plan by the National Company Law Tribunal (NCLT). The Tribunal emphasized the extinguishment of claims not included in the approved plan under the Insolvency and Bankruptcy Code, citing the binding nature of such plans on stakeholders. The decision highlighted the impact of resolution plans on pending proceedings and granted liberty for representation by the Interim Resolution Professional, leaving open the possibility of restoring the appeals in the future. en-us Mon, 27 Feb 2023 00:00:00 +0530 Tue, 20 Jun 2023 10:09:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439232 The Tribunal dismissed the assessee's appeals against the orders of the Commissioner of Income Tax (Appeals) due to the approval of the resolution plan by the National Company Law Tribunal (NCLT). The Tribunal emphasized the extinguishment of claims not included in the approved plan under the Insolvency and Bankruptcy Code, citing the binding nature of such plans on stakeholders. The decision highlighted the impact of resolution plans on pending proceedings and granted liberty for representation by the Interim Resolution Professional, leaving open the possibility of restoring the appeals in the future. Case-Laws Income Tax Mon, 27 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439232