New ITR-A Form as return of income U/s 170A to be filed by the successor entity pursuant to a Business Reorganisation

 

CBDT, vide Notification No. 110/2022 dated 19.09.2022, notifies Rule 12AD and Form ITR-A as return of income under Section 170A to be filed by the successor entity pursuant to a business reorganisation; The Rule comes into force with effect from Nov 1, 2022; The Rule provides that if the assessment or reassessment proceedings for an AY relevant to the year in which the order of the business reorganisation applies have been completed or are pending on the date of furnishing of the modified return in accordance with the provisions of section 170A, the AO shall, pass an order modifying the total income of the relevant AY determined in such assessment or reassessment, or proceed to complete the assessment or reassessment proceedings, as the case may be, in accordance with the order of the business reorganisation and the modified return so furnished;

The Rule also modifies ITR-6 for AY 2022-23 or prior Assessment years to include a tick box for ITR filed as per Section 170A