Resolution Plan Approved Under IBC, Income Tax Reassessment Not Sustainable: Delhi High Court

The Delhi High Court ruled that once a resolution plan is approved under the Insolvency and Bankruptcy Code (IBC), income tax reassessment is not permissible. The court held that the approval of a resolution plan extinguishes past tax liabilities, preventing any reassessment. This decision clarifies the legal position on tax reassessment in insolvency cases, providing relief to companies undergoing resolution.