Faceless reassessment jurisdiction turned on retrospective AO definition, with later faceless-assessment changes treated as clarificatory and procedur...
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The ITAT set aside the enhancement order issued by CIT(A) under s.251(2) regarding LTCG and denial of s.54F deduction on sale of gold, ornaments, and silver utensils. The Tribunal held that s.251(2) provisions are mandatory, requiring reasonable opportunity of show cause before enhancement, relying on precedents from SC and other ITAT benches. Despite Revenue's contention that the appellant had failed to appear when the case was called and opportunities were granted, the Tribunal determined that sufficient opportunity was not provided before enhancement. The matter was remanded for fresh adjudication on merits after providing fair opportunity of hearing to the assessee.
The ITAT set aside the enhancement order issued by CIT(A) under s.251(2) regarding LTCG and denial of s.54F deduction on sale of gold, ornaments, and silver utensils. The Tribunal held that s.251(2) provisions are mandatory, requiring reasonable opportunity of show cause before enhancement, relying on precedents from SC and other ITAT benches. Despite Revenue's contention that the appellant had failed to appear when the case was called and opportunities were granted, the Tribunal determined that sufficient opportunity was not provided before enhancement. The matter was remanded for fresh adjudication on merits after providing fair opportunity of hearing to the assessee.
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