COMMISSIONER OF INCOME TAX JAIPUR vs M/S GOPAL SHRI SCRIPS PVT LTD

The Supreme Court held that the High Court erred in dismissing the Income Tax Department's appeal as infructuous based on the dissolution of the respondent company under Section 560(5) of the Companies Act, 1956. The Court established that the dissolution of a company does not automatically render an appeal against it infructuous, as the merits of the case must still be considered. Consequently, the Supreme Court set aside the High Court's order and remanded the case for a fresh decision on merits.