https://www.taxtmi.com/caselaws?id=445311 Delhi HC ruled that revenue authorities cannot recover dues for periods preceding NCLT approval of resolution plan under IBC. Court held that Section 31 of IBC extinguishes all claims not provided for in approved resolution plan, including statutory dues owed to government authorities. Section 238 of IBC overrides inconsistent provisions in other statutes including Income Tax Act. Revenue's contention that Section 238 does not impede assessment proceedings was rejected. Successful resolution applicant gets clean slate and cannot be pursued for pre-approval dues not embedded in resolution plan. Impugned notices and orders held unsustainable and unenforceable. en-us Tue, 31 Oct 2023 00:00:00 +0530 Mon, 05 Feb 2024 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445311 Delhi HC ruled that revenue authorities cannot recover dues for periods preceding NCLT approval of resolution plan under IBC. Court held that Section 31 of IBC extinguishes all claims not provided for in approved resolution plan, including statutory dues owed to government authorities. Section 238 of IBC overrides inconsistent provisions in other statutes including Income Tax Act. Revenue's contention that Section 238 does not impede assessment proceedings was rejected. Successful resolution applicant gets clean slate and cannot be pursued for pre-approval dues not embedded in resolution plan. Impugned notices and orders held unsustainable and unenforceable. Case-Laws Income Tax Tue, 31 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445311