Calcutta HC dismisses Appeal against ITAT Ruling after Approval of Resolution Plan by NCLT

The Calcutta High Court dismissed an appeal against an ITAT ruling after the National Company Law Tribunal (NCLT) approved a resolution plan. The appeal challenged the ITAT’s decision related to tax liabilities, arguing that the resolution plan's approval should not affect the tax assessment. However, the court held that once a resolution plan is approved by the NCLT, it binds all stakeholders, including tax authorities, and dismissed the appeal. This decision underscores the finality of NCLT-approved resolution plans in insolvency proceedings.