TMI Blog2023 (4) TMI 556X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 (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. - ITA No.1668/PUN/2019 - - - Dated:- 30-11-2022 - SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditors, including the Central Government, any State Government or any local authority, guarantors and other stakeholders. On the date of approval of resolution plan by the Adjudicating Authority, all such claims, which are not a part of resolution plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim, which is not part of the resolution plan; (ii) 2019 amendment to Section 31 of the I B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which I B Code has come into effect; and (iii) Consequently all the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o derive support for the above proposition from the decision of the Jurisdictional High Court in the case of Murli Industries Limited vs. ACIT 441 ITR 8 (Bom.). The Hon ble Bombay High Court after referring to the judgement of the Hon ble Supreme Court in the case of Ghanashyam Mishra And Sons (supra) 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 by holding as under :- 16. Ultimately, the Hon ble Supreme Court has answered the questions framed in the following manner: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rnment, would come within the ambit of Operational Creditors. Further, the claim of operational creditors will also include a claim of statutory authority like Income Tax Department on account of money receivable pursuant to an imposition by a statute. The Hon ble Supreme Court has also upheld the view taken by the Rajasthan High Court holding that the demand notices issued by the Central Goods and Service Tax Department, for a period prior to the date on which NCLT has granted its approval to the Resolution Plan, are not permissible in law. The concluding remarks of the Hon ble Apex Court are 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, shal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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