CIT(A) Enhancement Quashed for No Notice – ITAT Restores LTCG Issues to AO

Ganesh Ramchandra More Vs ITO (ITAT Pune) CIT(A) Enhancement Quashed for No Notice – ITAT Restores LTCG Issues to AO The ITAT Pune partly allowed the appeal of the assessee, primarily holding that enhancement by CIT(A) without issuing mandatory notice u/s 251(2) is invalid, and accordingly quashed the enhancement of income and related directions for penalty proceedings u/s 271D. On merits, the Tribunal held that indexed cost of acquisition must be allowed while computing capital gains. Since the assessee had not furnished the purchase deed earlier, the matter was restored to the AO for f...