https://www.taxtmi.com/highlights?id=83832 The National Faceless Assessment Centre (NFAC) enhanced the book profit u/s 115JB of the Income Tax Act by Rs. 1,54,79,03,84,000 and Rs. 6,13,51,23,330 without issuing a mandatory enhancement notice u/s 251(2). The Tribunal held that without issuing the enhancement notice specifically showcasing how the assessee's income should be enhanced on particular issues, the NFAC does not have statutory power to enhance the income. Consequently, the Tribunal allowed the assessee's additional grounds and directed the deletions of the additions made to the computation of book profit u/s 115JB. en-us Tue, 10 Dec 2024 08:58:16 +0530 Tue, 10 Dec 2024 08:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83832 The National Faceless Assessment Centre (NFAC) enhanced the book profit u/s 115JB of the Income Tax Act by Rs. 1,54,79,03,84,000 and Rs. 6,13,51,23,330 without issuing a mandatory enhancement notice u/s 251(2). The Tribunal held that without issuing the enhancement notice specifically showcasing how the assessee's income should be enhanced on particular issues, the NFAC does not have statutory power to enhance the income. Consequently, the Tribunal allowed the assessee's additional grounds and directed the deletions of the additions made to the computation of book profit u/s 115JB. Highlights Income Tax Tue, 10 Dec 2024 08:58:16 +0530 https://www.taxtmi.com/highlights?id=83832