2023 (6) TMI 1281

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....rth, CIT (DR) ORDER PER ANUBHAV SHARMA, JM: The Revenue has come in appeal against separate orders all dated 30.03.2017 passed by the Commissioner of Income Tax (Appeals)-25, New Delhi (hereinafter referred as "learned First Appellate Authority" or in short "FAA") in respective appeals for A.Y. 2008-09, 2009-10, 2011-12 and 2014-15. Since common issues involve for adjudication in all these appe....

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.... u/s 14 of IPC on 16.3.2018. Thus before the date of assessment orders in present AYs, moratorium order was effective. 3.1 It is further submitted that the claim of Revenue as operational creditors regarding outstanding dues of Rs. 21,30,48,470/- was submitted, as reflected on page 107 of the PB, wherein list of operational creditors (Government dues) have been reflected. Resolution plan was subm....

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....come-tax Department in partial settlement of outstanding dues on 06.10.2022 and additional payment of Rs. 48,865/- was made to the Income-tax Department on 01.11.2022 in full and final settlement of all outstanding dues. 4. The learned AR has also relied on the judgment of Hon'ble Supreme Court of India in Ghanshyam Mishra & Sons Pvt. Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd. 2021 (4) ....

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....sideration the aforesaid facts the Bench is of the considered view that the statutory demands of the Revenue stand extinguished consequent to approval of Resolution Plan and vesting of the Management of the company in the hands of Successful Resolution Applicant. The provision of subsection (1) of Section 31 of the IBC and judgment of Hon'ble Supreme Court relied upon by the learned AR leave no do....