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2023 (4) TMI 556 - AT - Income TaxTreatment to claims which are not a part of resolution plan on date of approval of resolution plan - Liability of dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the resolution plan - Corporate Insolvency Resolution Proceedings (CIRP) are pending against the respondent-assessee and as of now, Hon'ble National Company Law Appellate Tribunal (NCLAT) is seized with the jurisdiction. HELD THAT:- Hon’ble Bombay High Court in Murli Industries Limited [2021 (12) TMI 1182 - BOMBAY HIGH COURT] after referring to the judgement of Ghanashyam Mishra And Sons [2021 (4) TMI 613 - SUPREME COURT] held that on the date of approval of the resolution plan by the Adjudicating Authority, all such claims which are not a part of the resolution plan, shall stand extinguished and no personnel shall be entitled to initiate or continue any proceedings in respect to a claim, which is not a part of the resolution plan. In the present case also, it is not a case of the Department that the claims which are part of subject matter of appeal are part of the resolution plan. Thus, we do not find any merit in the appeal filed by the Revenue and hence stands dismissed.
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