The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has dismissed the revenue department’s appeal and held that statutory dues that are not included in an approved resolution plan under the Insolvency and Bankruptcy Code (IBC), 2016 stand extinguished.
PSL Limited (appellant) for whom the revenue sought to recover outstanding excise dues despite the fact that an approved resolution plan for the corporate debtor had already been sanctioned by the NCLT on 16.05.2025.
The Department had filed its claim and participated in the CIRP proceedings. During the hearing, the Authorized Representative placed on record the NCLT order approving the resolution plan.
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