https://www.taxtmi.com/caselaws?id=752632 ITAT Nagpur dismissed an appeal filed by a company undergoing Corporate Insolvency Resolution Proceedings (CIRP) under the Insolvency and Bankruptcy Code. The tribunal held that once CIRP commences under sections 7, 9, or 10, continuation of pending proceedings is prohibited. Following the Supreme Court decision in Ghanashyam Mishra And Sons, claims not included in the approved resolution plan stand extinguished, and no person can initiate or continue proceedings for such claims. Since the income tax claims were not part of the resolution plan and NCLAT had jurisdiction over the matter, the appeal was dismissed as not maintainable, though leave was granted to restore if necessitated by CIRP orders. en-us Mon, 01 Jan 2024 00:00:00 +0530 Tue, 14 May 2024 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752632 ITAT Nagpur dismissed an appeal filed by a company undergoing Corporate Insolvency Resolution Proceedings (CIRP) under the Insolvency and Bankruptcy Code. The tribunal held that once CIRP commences under sections 7, 9, or 10, continuation of pending proceedings is prohibited. Following the Supreme Court decision in Ghanashyam Mishra And Sons, claims not included in the approved resolution plan stand extinguished, and no person can initiate or continue proceedings for such claims. Since the income tax claims were not part of the resolution plan and NCLAT had jurisdiction over the matter, the appeal was dismissed as not maintainable, though leave was granted to restore if necessitated by CIRP orders. Case-Laws Income Tax Mon, 01 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752632