https://www.taxtmi.com/caselaws?id=751756 The Gujarat HC ruled on reassessment proceedings against a company post-insolvency resolution. Following Supreme Court precedent in Ghanshyam Mishra Sons, the court held that once NCLT approves a resolution plan, all claims not included in the plan are extinguished. The demand raised after the resolution plan's approval on 1st July 2022 was not part of the resolution plan, and no claim was made before the Resolution Professional. Since no demand existed when NCLT passed its order, the subsequent demand arising from the assessment order could not be considered extinguished. The court quashed notices issued by CIT (Appeals) regarding the reassessment proceedings. en-us Tue, 23 Jan 2024 00:00:00 +0530 Wed, 09 Jul 2025 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751756 The Gujarat HC ruled on reassessment proceedings against a company post-insolvency resolution. Following Supreme Court precedent in Ghanshyam Mishra Sons, the court held that once NCLT approves a resolution plan, all claims not included in the plan are extinguished. The demand raised after the resolution plan's approval on 1st July 2022 was not part of the resolution plan, and no claim was made before the Resolution Professional. Since no demand existed when NCLT passed its order, the subsequent demand arising from the assessment order could not be considered extinguished. The court quashed notices issued by CIT (Appeals) regarding the reassessment proceedings. Case-Laws Income Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751756