Im trying to cut sections of a song out, but I want to cut at the right time eg on a tap or downbeat. Im wondering if audition has any feature in it that lets you easily cut at a tap or downbeat
No, it doesn't, I'm afraid. This is what your ears are supposed to be for. Chances are that if you have a complete mix, it wouldn't be that accurate anyway - the best any software like that does is to detect all the beats - it can't differentiate between a downbeat or any other.
If you just want to make a track shorter, though, there is another option. Open the track in Multitrack view, right click on it and scroll to the bottom of the list, where it says 'Enable Remix'. This will analyse your whole track, and you can specify a new length in the Properties window. Sometimes the results from this can be surprisingly effective.