K. SREEDHARAN, C. J.

( 1 ) RULE. With the consent of the parties, the petitions are taken up for final disposal.

( 2 ) THE petitioners are assessees under the Income Tax Act for the last several years. They were partners of Firm, under the name and style of "messrs. Bharat Vijay construction Company". They were assessed during the assessment year 1988-89 under sec. 143 (1) of the Act. They were served with notice dated 13. 3. 1997 issued under Sec. 148 of the Act, stating that income for the assessment year 1988-89 has escaped assessment within the meaning of Sec. 147 of the Income Tax Act. Validity of these notices are questioned in these Petitions. Issues raised for quashing the notices are the same. So, we consider it advantageous to dispose of these petitions by a common judgment.

( 3 ) FACTS aleged by the petitioners in these petitions are identical. They are as follows: Petitioners filed Return for the assessment year 1988-89 enclosing therewith income and Expenditure Account, wherein it showed an amount of Rs. 47,82,922. 50 by way of receipt from Daman Ganga Dam arbitration. How this amount was arrived at was also shown in an Annexure to the Return. An amount of Rs. 1,91,31,

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