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of <h1>Income Tax Act Section 170A requires successor entities to file modified returns within six months after business reorganization orders</h1> Section 170A of the Income Tax Act, 1961 governs the effect of court or tribunal orders on business reorganization for tax purposes. When a business reorganization order is issued by a High Court, tribunal, or Adjudicating Authority under the Insolvency and Bankruptcy Code, and income returns were previously filed, the successor entity must furnish a modified return within six months. The Assessing Officer must then modify assessments accordingly, whether completed or pending. Business reorganization includes amalgamation, demerger, or merger of businesses, while successor refers to all resulting companies from such reorganization, regardless of prior existence.
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