https://www.taxtmi.com/caselaws?id=767666 The SC held that income tax demands raised after the approval of the Resolution Plan under the IB Code are extinguished if not included in the plan. The tax dues for assessment years 2012-13 and 2013-14, not part of the approved plan, stand extinguished. Consequently, subsequent demands for these years are invalid and unenforceable. The Court emphasized that once the NCLT approves a Resolution Plan, no belated claims can be admitted, as such demands would hinder the corporate debtor's ability to restart business operations on a clean slate. Therefore, the demands raised post-approval by the revenue authority cannot obstruct implementation of the Resolution Plan. en-us Thu, 20 Mar 2025 00:00:00 +0530 Tue, 12 Aug 2025 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767666 The SC held that income tax demands raised after the approval of the Resolution Plan under the IB Code are extinguished if not included in the plan. The tax dues for assessment years 2012-13 and 2013-14, not part of the approved plan, stand extinguished. Consequently, subsequent demands for these years are invalid and unenforceable. The Court emphasized that once the NCLT approves a Resolution Plan, no belated claims can be admitted, as such demands would hinder the corporate debtor's ability to restart business operations on a clean slate. Therefore, the demands raised post-approval by the revenue authority cannot obstruct implementation of the Resolution Plan. Case-Laws Income Tax Thu, 20 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767666