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of <h1>Section 170A Requires Modified Tax Returns for Business Reorganizations Post-Court Orders Within Six Months of Order Issuance.</h1> Section 170A of the Income-tax Act, introduced by the Finance Act, 2022, addresses the effect of tribunal or court orders on business reorganisations. It mandates that in cases of business reorganisation, if a successor has already filed a return of income under section 139 for the relevant assessment year, they must submit a modified return within six months from the end of the month in which the court or tribunal order was issued. This modified return must adhere to the specifics of the order. 'Business reorganisation' includes amalgamations, de-mergers, or mergers, and 'successor' refers to all resulting companies from such reorganisations.
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