Claims not part of resolution plan, shall stand extinguished

V.S. MetaCast P.Lttd. Vs DCIT (ITAT Ahmedabad)

Proceeding under provisions of Insolvency and Bankruptcy Code, 2016 overrides the proceedings under the Income Tax Act, 1961. In other words, all the proceedings initiated or pending before different authorities shall stand abated in terms of approval of resolution plan by the NCLT. The Hon’ble Apex Court in j

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