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TMI Blog2024 (10) TMI 1205X X X X Extracts X X X X X X X X Extracts X X X X ..... ve clear provisions of law no person would be entitle to initiate or continue any proceedings in respect of any claim for any dues relating to the period prior to approval of resolution plan. In view of approval of resolution plan, all liabilities of all stakeholders including that of Government/ Statutory Authority shall stand extinguished after approval of the resolution plan. We therefore, deem it appropriate to quash and set aside the Assessment Order passed u/s 147 r.w.s. 144B of the Act as well as the demand notice issued for the Assessment Year 2013-14. The petition is accordingly allowed. - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MRS. JUSTICE MAUNA M. BHATT Appearance: For the Petitioner(s) No. 1: Mr Tushar Hemani, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021 in CP (IB) 770 of 2019. It is the case of the petitioner that thus, all the claims which have not been dealt with during the CIRP period or filed within the statutory period stood extinguished pursuant to the order passed by the NCLT. 4.3. subsequent thereto, IA No.793 of 2021 in CP (IB) No.770/NCLT/AHM/2019 was moved for minor modification in sub-clause XIII of clause 17 of the order of the NCLT dated 05.10.2021 and consequently, the NCLT passed an order dated 16.12.2021 in IA No.793 of 2021 in CP (IB) No.770/NCLT/AHM/2019 whereby sub-clause XIII of clause 17 of the order dated 05.10.21 was replaced. 4.4. Meanwhile, the case of the petitioner for the year under consideration was reopened by the respondent by issuance of notice dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petitioner at Rs. 1,35,54,576/-. Consequently, demand of Rs. 4,61,73,520/- came to be raised. 4.9. The petitioner being aggrieved and dis-satisfied with Assessment Order passed under Section 147 read with Section 147 if the Act as well as the demand notice for the Assessment Year 2013-14 filed this petition. 5.1. Learned Senior Advocate Mr. Tushar Hemani for the petitioner submitted that in view of the settled legal position and in view of resolution plan being approved by order dated 05.10.2021, all past dues of the Income Tax Department got extinguished and therefore, the Assessment Order passed under Section 147 read with Section 144B of the Act as well as the demand notice issued for the Assessment Year 2013-14 deserves to be quashed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rified and admitted in the proceedings before NCLT. After consideration of the claims by all concerns the plan was approved. In the decision of Hon ble Supreme Court in case of Ghanashyam Mishra (Supra) it is held as under: 102. NCLT found, that by email dated 6.1.2018, EARC had submitted its claim in Form C for an amount of Rs.648,89,62,395/-. In response to the said email, RP sought a clarification, as to whether the corporate guarantee had been invoked by the applicant. RP had not received any response till 21.2.2018 from EARC. Despite repeated requests made by RP, EARC did not respond to the query made by RP. From the record placed before NCLT, it was clear, that EARC had not invoked the corporate guarantee. NCLT therefore posed a quest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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