Tax Recovery Claims Extinguished After NCLT Resolution Plan Approval: Madras HC

Empee Distilleries Limited Vs ACIT (Madras High Court) The Madras High Court heard appeals concerning substantial questions of law related to Empee Distilleries Limited and the applicability of a Resolution Plan approved under the Insolvency and Bankruptcy Code (IBC). The appeals questioned whether the Income Tax Appellate Tribunal (ITAT) had jurisdiction to decide an appeal filed by the erstwhile management before the Corporate Insolvency Resolution Process (CIRP), whether assessment orders and CIT(A) orders would survive following the approval of the Resolution Plan by the National Company ...