1. - By this writ petition filed under Articles 226 and 227 of the Constitution, the petitioners have prayed for quashing the order annexure 13 dated May 31, 1988, whereby the waiver petition filed under Sections 273A and 273A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"), has been rejected. A direction has also been sought for reconsideration of the waiver petition by the non-petitioners or, in the alternative, the petitioners have claimed waiver of the penalty amounting to Rs. 29,600 imposed against them under Section 271, vide order annexure 6 dated March 12, 1987, They have further sought relief by way of quashing of the order, annexure 15, dated December 12, 1988, the notice annexure 16 dated February 15/24, 1988, the order annexure 21, dated March 23, 1989, and the complaint annexure 20 pending in the Court of the Chief Judicial Magistrate (Economic Offences), Jaipur.

2. The facts necessary to be noticed for the disposal of this writ petition briefly stated are : that petitioner No. 1, M/s. Shree Singhvi Bros, is a registered partnership firm and petitioners Nos. 2 and 3, Shri Kushal Singh and Laxmansingh, are its partners. It is alleged that a se