Dismissing the petition the Court held that the reasons recorded stated that credible information was received from the Deputy Director (Inv.) that a suspected person who had defrauded the Government by preparing fabricated or bogus documents and used them as genuine documents and public servants by misusing their designation under criminal conspiracy cheated the Government to cause financial loss and to the gain of a developer K.S. Chamankar Enterprises  and that assessee’s income had escaped assessment. The objections raised by the assessee to the reopening of the assessment were rejected. Thereafter, the assessee complied with the notice issued under section 142(1). A notice was issued proposing to add to the income of the assessee under section 69A as unexplained money an amount being transaction effected in a particular bank account between the two parties. Court also observed that there was nothing to indicate that there was non-application of mind to accord approval under section 151 by the authority. Merely because information was received at 5.47 p.m. and the notice under section 148 was issued by 10.49 p.m. that would not mean that there had been non-application of mind. (AY. 2012-13)