https://www.taxtmi.com/caselaws?id=446970 Delhi HC held that income tax claims accruing prior to approval of Resolution Plan under Section 31 of the Insolvency and Bankruptcy Code are extinguished upon plan approval. Revenue authorities issued assessment orders and demand notices after public announcement of CIRP and approval of Resolution Plans by NCLT, without filing claims during the prescribed period. The court ruled that tax claims for Assessment Years 2017-18 and 2014-15 stood extinguished following Resolution Plan approval, as revenue failed to submit claims within the stipulated timeframe under Section 15 of the Code. en-us Tue, 12 Dec 2023 00:00:00 +0530 Fri, 15 Dec 2023 10:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446970 Delhi HC held that income tax claims accruing prior to approval of Resolution Plan under Section 31 of the Insolvency and Bankruptcy Code are extinguished upon plan approval. Revenue authorities issued assessment orders and demand notices after public announcement of CIRP and approval of Resolution Plans by NCLT, without filing claims during the prescribed period. The court ruled that tax claims for Assessment Years 2017-18 and 2014-15 stood extinguished following Resolution Plan approval, as revenue failed to submit claims within the stipulated timeframe under Section 15 of the Code. Case-Laws Income Tax Tue, 12 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446970