On March 12, 2019, the Supreme Court of India passed a judgment in the matter of Commissioner of Income Tax, Jaipur v. M/s Gopal Shri Scrips Private Limited (C.A. No. 2922 of 2019), wherein the issue in question was whether proceedings should be continued against a company whose name has been struck off under section 560 of the Companies Act, 1956.
The High Court of Rajasthan dismissed an appeal filed by the Commissioner of Income Tax, Jaipur against the aforesaid company on the ground that such appeal had become infructuous due to the company’s name having been struck off from the register by the Registrar of Companies under section 560 of the Companies Act, 1956.
The Supreme Court set aside the said order of the High Court in light of section 560(5)(a) of the Companies Act, 1956 and Chapter XV of the Income Tax Act, 1961 which deals with ‘liability in special cases’ and its clause (L) which deals with ‘discontinuance of business or dissolution’, and remanded the matter to the High Court for deciding the appeal afresh on merits.
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