https://www.taxtmi.com/caselaws?id=462829 ITAT Lucknow set aside the assessment order and directed fresh assessment after finding that the AO completed assessment hurriedly based on counsel's statement agreeing to 5.5% net profit estimation without proper verification of books of account. The tribunal held that counsel cannot make surrender statements without assessee's approval and AO should have called responsible company person to record statement. The AO failed to examine books properly to invoke section 145(3) provisions for rejection. Additionally, the tribunal deleted 5% labour charges disallowance made on ad hoc basis without pointing specific defects in bills and vouchers. The matter was restored to AO for de novo assessment with proper verification of books instead of relying on counsel's statement. CIT(A)'s order was set aside. en-us Wed, 17 Dec 2014 00:00:00 +0530 Fri, 18 Jul 2025 23:27:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462829 ITAT Lucknow set aside the assessment order and directed fresh assessment after finding that the AO completed assessment hurriedly based on counsel's statement agreeing to 5.5% net profit estimation without proper verification of books of account. The tribunal held that counsel cannot make surrender statements without assessee's approval and AO should have called responsible company person to record statement. The AO failed to examine books properly to invoke section 145(3) provisions for rejection. Additionally, the tribunal deleted 5% labour charges disallowance made on ad hoc basis without pointing specific defects in bills and vouchers. The matter was restored to AO for de novo assessment with proper verification of books instead of relying on counsel's statement. CIT(A)'s order was set aside. Case-Laws Income Tax Wed, 17 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462829