How to enable back Move to Transform option?

In Photoshop I used to be able just to click on object  (i.e. text in some layer) while move tool was selected and it automaticaly show me bounding box around object and let me move and transform it right there. Now when I click I don't see bounding box but I can still move it but not resize (or other transform functions). I'm not sure at which point it changed, but I'd like to get it back. How can I do that?