Business reorganisation obligations require successors to file modified returns and compel Assessing Officers to align assessments with reorganisation orders.

Section 170A requires successor companies affected by a business reorganisation to furnish a modified return in prescribed form and manner limited to the reorganisation order, enabling modification of predecessor returns. The Assessing Officer must, on receipt, modify completed assessments or assess/reassess pending proceedings in accordance with the reorganisation order and the modified return, with all other Act provisions applying and tax charged at the rate applicable to the relevant assessment year.

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