The assessee’s corporate debtor had income-tax liabilities for AYs 2012-13 and 2013-14, which were not shown as contingent liabilities in the Resolution Plan approved by NCLT on 21-5-2019. After approval, the Revenue raised demands for those years. The Supreme Court held that once a Resolution Plan is approved under s. 31 of IBC, all prior claims not included in the Plan stand extinguished. The subsequent tax demands were invalid and unenforceable. Reliance was placed on Ghanashyam Mishra & Sons v. Edelweiss ARC (2021) 9 SCC 657 and Essar Steel India Ltd. v. Satish Kumar Gupta (2020) 8 SCC 531. NCLT’s imposition of costs was also found unsustainable. (AY. 2012-13,  2013-14)