https://www.taxtmi.com/caselaws?id=790980 On approval of a resolution plan under the Insolvency and Bankruptcy Code, pre-resolution tax claims not preserved in the plan stand extinguished and bind all stakeholders. Where the approved plan expressly waived and discharged outstanding tax liabilities, including assessed and unassessed dues, the revenue had no legal basis to adjust income tax refunds against those past demands. The court held that recovery by refund adjustment could not continue after extinguishment of the liabilities, and the adjustment was quashed. The merits of the refund claim itself were not examined. en-us Mon, 27 Apr 2026 00:00:00 +0530 Mon, 04 May 2026 07:57:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790980 On approval of a resolution plan under the Insolvency and Bankruptcy Code, pre-resolution tax claims not preserved in the plan stand extinguished and bind all stakeholders. Where the approved plan expressly waived and discharged outstanding tax liabilities, including assessed and unassessed dues, the revenue had no legal basis to adjust income tax refunds against those past demands. The court held that recovery by refund adjustment could not continue after extinguishment of the liabilities, and the adjustment was quashed. The merits of the refund claim itself were not examined. Case-Laws Income Tax Mon, 27 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790980