Tribunal deems assessment reopening and unaccounted property payment addition improper, lacks evidence. Assessee's appeal partially allowed.

The Tribunal found the reopening of assessment and the subsequent addition of unaccounted payment for property to be improper and lacking material evidence. The appeal was allowed based on these grounds, resulting in the partial allowance of the assessee's appeal.

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Issues:
1. Reopening and addition of unaccounted payment for property
2. Addition towards income from house property
3. Validity of interest charged under section 234B

Issue 1 - Reopening and Addition of Unaccounted Payment for Property:
The assessee, an HUF, filed its return showing income from house property. The AO received information about unaccounted cash payment made by the assessee for property purchase. A notice u/s 148 was issued, and the AO added the unaccounted cash payment to the income. The CIT(A) confirmed the reopening and addition. The assessee contended that no cash payment was made, and the reopening was invalid. The AO's reasons were based on information from the Investigation Wing. The Tribunal found the information vague and scanty, lacking material evidence. The AO did not apply his mind or examine the builder or broker. Citing precedents, the Tribunal held the reopening improper and illegal, allowing the appeal on this ground.

Issue 2 - Addition Towards Income from House Property:
The appeal also challenged the addition towards income from house property. The Tribunal allowed this ground based on the improper reopening of assessment and the lack of material evidence against the assessee. The addition of unaccounted payment was linked to this issue, and since the reopening was deemed improper, the addition was dismissed.

Issue 3 - Validity of Interest Charged under Section 234B:
Grounds 4 and 5 of the appeal pertained to interest charged under section 234B. Ground 4 was not pressed, and ground 5 was against the interest charged. The Tribunal dismissed both these grounds as consequential. The appeal was partly allowed based on the findings related to the reopening and addition of unaccounted payment for property.

In conclusion, the Tribunal found the reopening of assessment and the subsequent addition of unaccounted payment to be improper and lacking in material evidence. The appeal was allowed on these grounds, leading to the partial allowance of the assessee's appeal.

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