( 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 pr