High Court dismissed the appeal of the revenue  on the ground that Court held that  since the respondent­ Company stands dissolved as a result of the order passed by the Registrar of the Companies under Section 560 (5) of the Companies Act, the appeal filed against such Company which stands dissolved does not survive for its consideration on merits. . Court held that, the fact that the assessee company stands dissolved as a defunct company u/s 560(5) of the Companies Act, 1956 does not mean that income-tax proceedings & appeals become infructuous. The liability against such companies has to be dealt with in accordance with s. 506(5) proviso (a) of the Companies Act and Chapter XV of the Income Tax Act which deal with “liability in special cases” and “discontinuance of business or dissolution”. Order of High Court is set aside   and directed to decide the appeal wih in six months .( CA  No. 2922 of 2019, dt. 12.03.2019)