https://www.taxtmi.com/caselaws?id=767204 The ITAT Mumbai held that the CIT(A) failed to provide mandatory reasonable opportunity of hearing before enhancing the assessment under section 251(2) regarding denial of section 54F deduction on sale of gold, ornaments and silver utensils. Despite the revenue's contention that the assessee had not appeared when called, the tribunal found that proper opportunity was not granted. The ITAT emphasized that section 251(2) provisions are mandatory and remanded the matter for fresh consideration on merits after providing fair hearing opportunity to the assessee. en-us Tue, 18 Feb 2025 00:00:00 +0530 Wed, 12 Mar 2025 09:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767204 The ITAT Mumbai held that the CIT(A) failed to provide mandatory reasonable opportunity of hearing before enhancing the assessment under section 251(2) regarding denial of section 54F deduction on sale of gold, ornaments and silver utensils. Despite the revenue's contention that the assessee had not appeared when called, the tribunal found that proper opportunity was not granted. The ITAT emphasized that section 251(2) provisions are mandatory and remanded the matter for fresh consideration on merits after providing fair hearing opportunity to the assessee. Case-Laws Income Tax Tue, 18 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767204