https://www.taxtmi.com/caselaws?id=765951 The Court held that the adjustment of a refund against old income tax dues was valid, as it aligned with the resolution plan approved by the NCLT. The Court applied principles from the Ghanashyam Mishra case, emphasizing that claims included in an approved resolution plan are binding on all stakeholders, while those not included are extinguished. The petitioner's argument against the adjustment was rejected, and the writ petition was dismissed, affirming the validity of the adjustment in accordance with the resolution plan. en-us Thu, 06 Feb 2025 00:00:00 +0530 Thu, 13 Feb 2025 08:36:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765951 The Court held that the adjustment of a refund against old income tax dues was valid, as it aligned with the resolution plan approved by the NCLT. The Court applied principles from the Ghanashyam Mishra case, emphasizing that claims included in an approved resolution plan are binding on all stakeholders, while those not included are extinguished. The petitioner's argument against the adjustment was rejected, and the writ petition was dismissed, affirming the validity of the adjustment in accordance with the resolution plan. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765951