https://www.taxtmi.com/caselaws?id=445310 Delhi HC held that income tax demands and penalties against a company that underwent successful CIRP under IBC were extinguished. The revenue department failed to lodge claims during the resolution process despite public announcements inviting creditor claims. The court ruled that the approved resolution plan binds all stakeholders including government authorities under Section 31 of IBC, and demands not claimed during CIRP proceedings stand automatically extinguished, making subsequent enforcement attempts legally untenable. en-us Tue, 31 Oct 2023 00:00:00 +0530 Fri, 12 Jul 2024 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445310 Delhi HC held that income tax demands and penalties against a company that underwent successful CIRP under IBC were extinguished. The revenue department failed to lodge claims during the resolution process despite public announcements inviting creditor claims. The court ruled that the approved resolution plan binds all stakeholders including government authorities under Section 31 of IBC, and demands not claimed during CIRP proceedings stand automatically extinguished, making subsequent enforcement attempts legally untenable. Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445310