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TMI Blog2022 (12) TMI 1525X X X X Extracts X X X X X X X X Extracts X X X X ..... therein and are satisfied that both the parties were prevented for reasonable cause in filing the instant appeals within statutory time limit. We, therefore, condone the delay and admit the appeals for adjudication. 3. As in the captioned appeals most of the issues raised by both the parties are common, therefore, as agreed by both the parties, the same are taken up together and are being disposed off by this common order for the sake of convenience and brevity. 4. Brief facts of the case as culled out from the records are that the assessee is a limited company. An application u/s 7 of Insolvency and Bankruptcy Code, 2016 was filed by the financial creditor against the assessee before the National Company Law Tribunal, Guwahati Bench (in short the "NCLT") on 26.10.2017 and an Interim Resolution Professional was appointed by the Tribunal. Further, it was submitted that vide order dated 10.02.2021 passed in IA No. 10 of 2020 the NCLT, Guwahati Bench has extinguished the claim of Income Tax Department which was made prior to 20th September, 2018. Therefore, all the appeals are liable to be dismissed as infructuous. 5. Ld. D/R, though supported the orders of both the lower authoriti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the NCLT, Guwahati Bench which has been registered as IA 10 of 2020 & the learned Bench has stayed the said notice. February 24, 2020 ACIL has filed another application being No. IA 31 of 2020 before the NCLT, Guwahati Bench praying extinguishment of all claim of Income Tax Department which are prior to 20th September, 2018. February 24, 2020 Another application seeking to include the claim of the Income Tax Department has been filed by ACIL before NCLT, Guwahati Bench which has been registered as IA 32 of 2020. January 20, 2021 Order passed in IA No. 10 of 2020 wherein the learned NCLT, Guwahati Bench has extinguished the claim of Income Tax Department pertaining to AY 2013-14 & AY 2014-15. February 10, 2021 In terms of the Order passed in IA No. 10 of 2020 the learned NCLT, Guwahati Bench has extinguished the claim of Income Tax Department in IA 31 of 2020. February 10, 2021 The Learned NCLT, Guwahati Bench has allowed the application being No. IA 32 of 2020 filed by ACIL and extinguished all claims which are prior to 20th September, 2018. April 19, 2021 Income Tax Department has issued show cause notice along with draft assessment order for AY 2018-19 to ACIL. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,691.03 released to the Income Tax Authorities on 18.12.2018 and 07.01.2019. That the Section 31(1) of the Insolvency and Bankruptcy Code, 2016 as amended vide Gazette Notification dated 06.08.2019 reads as under: (1) If the Adjudicating Authority is satisfied that the resolution plan as approved by the committee of creditors under sub-section (4) of section 30 meets the requirements as referred to in subsection (2) of section 30 it shall by order approve the resolution plan which shall be binding on the corporate debtor and its employees, members, creditors, including the Central Government, any State Government or any other local authority to whom a debt in respect of the payment of dues arising under any law for the time being in force, such as authorities to whom the statutory dues are owed, guarantors and other stakeholders involved in the resolution plan, [emphasis supplied] That in view of the amended provision of section 31 of the Insolvency and Bankruptcy Code, the approved resolution plan has been made binding on the corporate debtor, its employees, members and all creditors including the Central Government, any State Government or any local authority to whom a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e amendment of Section 31 of the I&B Code was, that though the legislative intent was to extinguish all such debts owed to the Central Government, any State Government or any local authority including the tax authorities once the approval was granted to the resolution plan by the NCLT; on account of there being any ambiguity, the State/Central Government continued with the proceedings in respect of the debts owed to them. In order to remedy the said mischief, the legislature thought it appropriate to clarify the position, that once such a resolution plan was approved by the Adjudicating Authority, all such claims/dues owed to the State/ Central Government or any local authority including tax authorities which were not part of the resolution plan shall stand extinguished." That the Hon'ble High Court of Rajasthan in "Ultratech Nathdwara Cement Ltd. (previously known as Binani Cements Ltd.) versus Union of India & Ors." In D.B. Civil Writ Petition No. 9480/2019 has held as under: "Considered in the light of the ratio of the above judgment and the stance of the Hon'ble Finance Minister before the Upper House of the Parliament, it is clear that the financial creditors hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n all the claims and demands of the Income Tax department raised on Assam Company India Limited prior to the period of approval of the resolution plan i.e. 20th September, 2018 are extinguished and/or waived. The Hon'ble Tribunal also held that since the Respondents did not filed any claims for the period from 1986-87 except 2013-14 and 2014-15 before the Resolution Professional / before the approval of the Resolution Plan, the left over claims of the Respondents from 1986-87 till the approval of the Resolution Plan, if it is filed now or in the future, is not to be entertained by the Resolution Applicant / Corporate Debtor. (Annexure C)" 9. We also find that the NCLT, Guwahati Bench in its order dated 10.02.2021 dealing with the various relief prayed by the assessee company disposed IA No. 32 of 2020 referring to the judgment of Hon'ble Supreme Court of India in the case of Committee of Creditors of Essar Steel India Limited vs. Satish Kumar Gupta and others in Civil Appeal No. 8766-67 of 2019 and other petitions vide order dated 15.09.2019 gave the following order disposing off the said IA No. 32 of 2020: "16. Since the Respondents have not filed any claims for the period ..... X X X X Extracts X X X X X X X X Extracts X X X X
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