https://www.taxtmi.com/caselaws?id=439707 The Revenue's appeals against the Commissioner of Income Tax (Appeals) orders for multiple assessment years were dismissed. The company underwent Insolvency and Bankruptcy Code proceedings, leading to the approval of a Resolution Plan extinguishing Revenue's claims. Payments were made to settle outstanding dues, and the NCLT's order was relied upon to support the extinguishment of claims. The Bench held that Revenue's demands were extinguished post-approval of the Resolution Plan, as per Section 31 of the IBC and relevant case law. Consequently, the Revenue's appeals lacked merit and were dismissed. en-us Wed, 28 Jun 2023 00:00:00 +0530 Fri, 30 Jun 2023 09:35:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439707 The Revenue's appeals against the Commissioner of Income Tax (Appeals) orders for multiple assessment years were dismissed. The company underwent Insolvency and Bankruptcy Code proceedings, leading to the approval of a Resolution Plan extinguishing Revenue's claims. Payments were made to settle outstanding dues, and the NCLT's order was relied upon to support the extinguishment of claims. The Bench held that Revenue's demands were extinguished post-approval of the Resolution Plan, as per Section 31 of the IBC and relevant case law. Consequently, the Revenue's appeals lacked merit and were dismissed. Case-Laws Income Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439707