( 1 ) THIS group of petitions seeks to challenge the constitutional validity of the provisions of Sec. 158-BD of the Income-Tax Act, 1961 (hereinafter referred to as the Act) on the ground that they violate the fundamental rights of the petitioners guaranteed by Arts. 14, 19 (1) (g) and 21 of the Constitution of India and the impugned Notice dated 15. 5. 1998 and the Assessment Order dated 14. 7. 1998 passed pursuant thereto as having been passed without jurisdiction on that ground.

( 2 ) EARLIER, by an order dated 6. 5. 1998, the Division Bench comprising of Honble the chief Justice and one of us (A. R. Dave, J.) had made an order directing all these matters to be posted for final disposal on 15. 7. 1998 in the Admission Board itself and that is how this group of matters came to be finally heard while they were on the admission board. Both the sides have referred to and argued on the basis of the record of Special Civil application No. 3021/98 which is the lead matter since all other matters of the group are identical.

( 3 ) THE petitioners case in these matters is that they were members of Dhawal co-operative Housing Society which was registered under the provisions of the Gujarat co-operative Housing Societies Act on 3. 4. 1978. The promoters of that society had entered into an agreement for purchase of a plot of land with one Lalitkumar T. Desai on 29. 10. 1975 for the purpose of putting up a building for providing residential accommodation to its members. Since the land was agricultural land, N. A. permission was required to be obtained by the seller. The necessary permission under Sec. 20 of the urban Land (Ceiling and Regulation) Act, 1976, came to be obtained on 21. 4. 1990. In the meantime, the vendor had passed away on 22. 8. 1989 and ultimately the sale deed came to be exeeuted by his heirs on the said date when permission was obtained, i. e. , on 21. 4. 1990. Under the sale deed, the said land admeasuring 3383 square meters was sold for Rs. 67. 660/ -. Thereafter, the Society entered into a development agreement on 11. 8. 1995 with one Madhavji Dhanjibhai Patel, who, as it transpired, was the sole owner of M/s. Dhruvin Enterprises. Under the terms of that agreement, it was stipulated that each of the original members of the society, who were 17 in number, had to pay Rs. 1,21,000/- as the cost of each flat to be allotted to such member. The said developer became entitled, under the agreement, to enrol new members for the said society with a written consent of the society after the original 17 members were handed over the possession of the flats which were to be constructed by him. Accordingly, after the building was constructed by the developer, Madhavji Dhanjibhai Patel, the society issued allotment letters on 3. 4. 1996 to the said original 17 members who are the petitioners before us in this group of petitions and the possession thereof was taken by them some time in February 1997. They had paid the stipulated amount of Rs. 1. 21. 000/- as the cost of construction of each flat as per the agreement. According to the petitioners, the society had thereafter, as per the agreement, inducted additional members on the request of the developer. In the meantime, on 14. 7,1996, the Income-Tax Department initiated search and seizure proceedings against Madhavji Dhanjibhai Patel at his residence and office premises as well as in respect of bank lockers and assessment proceedings as per the, special procedure laid down by Chapter XIV-B of the Act were initiated against him which were completed on 30. 7. 1997, assessing the total undisclosed income at Rs. 5,65,66,211/ -. In those proceedings against Madhavji, his statements were recorded at various stages and on 24. 7. 1997 it was recorded in Question-Answer form. In August 1997, the petitioners received notices dated 25. 7. 1997 from the respondent No. 1, the deputy Commissioner of Income-Tax, under Sec. 158-BD calling upon the petitioners to file return