Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a clean slate.

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....Approved resolution plans extinguish statutory income-tax dues for periods before approval where the Revenue did not lodge those claims during the corporate insolvency resolution process and the plan does not provide for them. Under Section 31 of the Insolvency and Bankruptcy Code, the approved plan binds stakeholders and prevents later recovery proceedings for excluded pre-approval dues. A belated tax claim cannot be added after approval, as this would undermine the corporate debtor's ability to restart on a clean slate. Even a subsequently revived assessment demand cannot be realised unless it was duly submitted and considered in the insolvency process.....