https://www.taxtmi.com/highlights?id=81167 Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This position is binding on the Central Government and various authorities, including tax authorities. All dues not part of the resolution plan stand extinguished, and no proceedings can be initiated or continued for any such claims. No proceedings relating to dues prior to the approval of the resolution plan can be continued or initiated. The stance that if the tax claim amount had not crystallized, it would be future dues and not past dues, is untenable. The continuation of existing proceedings and initiation of new proceedings related to operations prior to the Corporate Insolvenc..... en-us Mon, 09 Sep 2024 08:26:00 +0530 Mon, 09 Sep 2024 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81167 Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This position is binding on the Central Government and various authorities, including tax authorities. All dues not part of the resolution plan stand extinguished, and no proceedings can be initiated or continued for any such claims. No proceedings relating to dues prior to the approval of the resolution plan can be continued or initiated. The stance that if the tax claim amount had not crystallized, it would be future dues and not past dues, is untenable. The continuation of existing proceedings and initiation of new proceedings related to operations prior to the Corporate Insolvenc..... Highlights Income Tax Mon, 09 Sep 2024 08:26:00 +0530 https://www.taxtmi.com/highlights?id=81167