Revenue entitlement to recover dues for the period which ...

Revenue Authorities Cannot Recover Pre-Resolution Dues Post-Approval Under Insolvency and Bankruptcy Code.

November 5, 2023

Case Laws Income Tax HC

Revenue entitlement to recover dues for the period which precedes the date of approval of the RP by the NCLT under IBC - Extinguishment of liability as per the approved resolution plan - A successful applicant is, in law, provided with a “clean slate”; therefore, dues for the period prior to the date when the RP was approved cannot be recovered. The courts have recognized this principle in more than one case. - HC

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Revenue entitlement to recover dues for the period which ...

Revenue Authorities Cannot Recover Pre-Resolution Dues Post-Approval Under Insolvency and Bankruptcy Code.

November 5, 2023

Case Laws Income Tax HC

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