https://www.taxtmi.com/caselaws?id=308915 The Tribunal dismissed the appeal challenging the approval of a Resolution Plan by the Adjudicating Authority. The Department of State Tax contested the treatment of its claim in the Corporate Insolvency Resolution Process, arguing it should be considered a secured charge. The Tribunal compared relevant provisions of tax laws and the Insolvency and Bankruptcy Code, concluding that the claimant was an Operational Creditor and the allocation in the Resolution Plan was valid. The Tribunal found the Supreme Court judgment cited by the Appellant distinguishable and upheld the Impugned Order. en-us Tue, 07 Feb 2023 00:00:00 +0530 Tue, 01 Aug 2023 08:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308915 The Tribunal dismissed the appeal challenging the approval of a Resolution Plan by the Adjudicating Authority. The Department of State Tax contested the treatment of its claim in the Corporate Insolvency Resolution Process, arguing it should be considered a secured charge. The Tribunal compared relevant provisions of tax laws and the Insolvency and Bankruptcy Code, concluding that the claimant was an Operational Creditor and the allocation in the Resolution Plan was valid. The Tribunal found the Supreme Court judgment cited by the Appellant distinguishable and upheld the Impugned Order. Case-Laws Insolvency and Bankruptcy Tue, 07 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308915