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TMI Blog2023 (6) TMI 806X X X X Extracts X X X X X X X X Extracts X X X X ..... ot maintainable in the present format. - ITA Nos. 372 to 379/SRT/2022, ITA Nos. 380 to 382/SRT/2022 - - - Dated:- 27-2-2023 - Shri Pawan Singh, Jm And Dr. A. L. Saini, Am For the Assessee : Shri Nitin Gheewala And Nancy Vankawala, AR For the Respondent : Shri Ashok B. Koli, CIT(DR) with Shri vinod Kumar, Sr. DR ORDER PER DR. A. L. SAINI, AM: This is set of eleven appeals filed by the assessee, pertaining to Assessment Years (AYs) 2010-11 to 2017-18 and A Y 2019-20 to 2020-21, are directed against the separate orders passed by the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [in short the ld. CIT(A) ], which in turn arise out of separate assessment orders passed by the Assessing Officer under section 143(1)/142(3)/147/154 of the Income Tax Act, 1961 (hereinafter referred to as the Act ). 2. At the outset, Shri Nitin Gheewala, Ld. Counsel for the assessee stated that Ld. National Company Law Tribunal (in short NCLT ), Ahmedabad vide its order dated 01.01.2021, passed in IA No.661 of 2020 with IA No.759 of 2020 in CP(IB) No. 453 of 2018 approved by the resolution plan (second revised resolution plan) da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ity grants its approval under section 31 could be continued. The ld. Counsel submits that recently section 156A is inserted in Income Tax Act by the Finance Act, 2022, and by virtue of a new section 156A, which is inserted for modification and revision of notice in certain cases wherein sub-Section (1) specified that: Where any tax, interest, penalty, fine or any other sum in respect of which a notice of demand has been issued under section 156, is reduced as a result of an order of the Adjudicating Authority as defined in clause (1) of section 5 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Assessing Officer shall modify the demand payable in conformity with such order and shall thereafter serve on the assessee a notice of demand specifying the sum payable, if any, and such notice of demand shall be deemed to be a notice under section 156 and the provisions of this Act shall accordingly, apply in relation to such notice. Further sub-Section (2) of Section 156A of the Act specified that Where the order referred to in sub-section (1) is modified by the National Company Law Appellate Tribunal or the Supreme Court, as the case may be, the modified notice of demand a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the time being in force, a license, permit, registration, quota, concession, clearances or a similar grant or right given by the Central Government, State Government, local authority, sectoral regulator or any other authority constituted under any other law for the time being in force, shall not be suspended or terminated on the grounds of insolvency, subject to the condition that there is no default in payment of current dues arising for the use or continuation of the license, permit, registration, quota, concession, clearances or a similar grant or right during the moratorium period;] (2) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. [(2A) Where the interim resolution professional or resolution professional, as the case may be, considers the supply of goods or services critical to protect and preserve the value of the corporate debtor and manage the operations of such corporate debtor as a going concern, then the supply of such goods or services shall not be terminated, suspended or interrupted during the period of moratorium, except where such corpor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come-tax Act on corporate debtor for a period which was squarely covered by resolution plan as approved by NCLT were wholly unsustainable in law and deserved to be quashed. The findings of the Hon`ble Court is reproduced below: 95. In the result, we answer the questions framed by us as under : (i) That once a resolution plan is duly approved by the Adjudicating Authority under sub-section (1) of section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors, 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)** ** ** (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 the resolution plan, shall stand extinguished an ..... 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