ITR in Form ITR-A by a successor company – Extended to March 31, 2023 by CBDT

The CBDT issued Order No. 370142/41/2022-TPL dated September 26, 2022, which extends the deadline for submitting a modified Income Tax Return (“ITR”) in Form ITR-A by a successor company under Section 170A of the Income Tax Act, 1961 (“the IT Act”) from September 30, 2022, to March 31, 2023.

With effect from April 1, 2022, the Finance Act of 2022 has inserted section 170A in the Income Tax Act of 1961 (“the Act”) relating to the effect of a tribunal or court order in respect of business reorganization, which provides that entities undergoing such business reorganization may furnish a modified return of income for any assessment year to which such order of business reorganization is applicable. The clause also states that such updated returns must be submitted within six months after the end of the month in which the competent body issued the order of business reorganization.




Form ITR-A has been notified in accordance with notification G.S.R. 709(E) dated September 19, 2022, and will be effective on November 1, 2022. This has, however, shortened the time available for submitting updated returns for successor firms in cases where the competent authority’s order of business reorganization was issued between April 1, 2022, and September 30, 2022.


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As a result, in order to address this genuine hardship and provide adequate time for furnishing returns under section 170A of the Act, the Board hereby provides that for successor companies in cases where the competent authority issued an order of business reorganization between April 1, 2022, and *September 30, 2022, the time available to furnish modified returns under section 170A of the Act shall be extended to March 31, 2023.