CIT(A) cannot exercise enhancement power on issue not dealt by AO

Edelweiss Asset Management Ltd. Vs ACIT (ITAT Mumbai)

ITAT Mumbai held that CIT(A) cannot exercise the power to enhance u/s. 251(1) where AO has not dealt with the issue and has not applied his mind on the taxability or non-taxability of a specific matter. Accordingly, exercise such power by CIT(A) will be beyond his jurisdiction.

Facts- The assessee is a limited company engaged in the business of investment managing services to mutual funds. The assessee for the AY 2017-1

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