https://www.taxtmi.com/caselaws?id=776578 Approved resolution plans under insolvency proceedings extinguish pre-approval tax liabilities and claims, so they cannot later be revived through reassessment for the prior period. Applying the clean slate principle and binding precedent, the court held that once the resolution plan was sanctioned, the tax department was bound by its treatment of earlier-period claims. Accordingly, reassessment proceedings and the connected notice under Sections 148 and 142(1) of the Income-tax Act, 1961 were quashed, and the assessee obtained relief. en-us Mon, 21 Jul 2025 00:00:00 +0530 Wed, 08 Apr 2026 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776578 Approved resolution plans under insolvency proceedings extinguish pre-approval tax liabilities and claims, so they cannot later be revived through reassessment for the prior period. Applying the clean slate principle and binding precedent, the court held that once the resolution plan was sanctioned, the tax department was bound by its treatment of earlier-period claims. Accordingly, reassessment proceedings and the connected notice under Sections 148 and 142(1) of the Income-tax Act, 1961 were quashed, and the assessee obtained relief. Case-Laws Income Tax Mon, 21 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776578