https://www.taxtmi.com/caselaws?id=789910 Approval of a resolution plan under the Insolvency and Bankruptcy Code freezes claims covered by the plan and binds all stakeholders, including governmental authorities. Claims not included in the approved plan stand extinguished, and no proceedings or recoveries can continue in respect of them. As the income-tax demand was not part of the approved resolution plan, the recovery action was inconsistent with the statutory effect of approval. The demand notice was therefore unsustainable and was set aside, and amounts already recovered were directed to be refunded with applicable interest. en-us Wed, 08 Apr 2026 00:00:00 +0530 Thu, 16 Apr 2026 08:34:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789910 Approval of a resolution plan under the Insolvency and Bankruptcy Code freezes claims covered by the plan and binds all stakeholders, including governmental authorities. Claims not included in the approved plan stand extinguished, and no proceedings or recoveries can continue in respect of them. As the income-tax demand was not part of the approved resolution plan, the recovery action was inconsistent with the statutory effect of approval. The demand notice was therefore unsustainable and was set aside, and amounts already recovered were directed to be refunded with applicable interest. Case-Laws Income Tax Wed, 08 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789910