Once Resolution Plan has been approved by NCLT, appeal pending for refund of Service Tax stands abated as CESTAT has become functus officio – Ballarpur Industries Ltd. Vs. CCE & ST, Panchkula – CESTAT Chandigarh
An appeal for refund of service tax of Corporate Debtor (assessee) was pending before CESTAT, Chandigarh and during the pendency, an application under section 7 of IBC, 2016 was admitted by NCLT against Corporate Debtor(assessee) and Resolution Plan has also been approved by NCLT.
Hon’ble CESTAT concludes that once the Resolution Plan has been approved by the NCLT, thereafter, the present appeal stands abated as the CESTAT has become functus officio in the matter relating to the present appeal.