G.S.SINGHVI, J.

1. These petitions are being decided by a common order because in all the petitions vires of ss. 234A, 234B and 234C of the IT Act, 1961 (hereinafter referred to as the Act) has been challenged and the petitioners have prayed for declaring these provisions to be ultra vires to the provisions of the Constitution of India. They have also prayed for quashing of the orders issued by the CBDT rejecting their prayer for waiver of interest, etc.

2. For the purposes of this order, it will be appropriate to make reference to a few facts from CWP No. 748 of 1994. Petitioner Sant Lal is partner of M/s Sankhon Wala Bros. which is carrying on business of gold at Sirsa. Search and seizure operations were conducted on the business and residential premises of the petitioner on 10th Feb., 1982. Cash amounting to Rs. 3,71,000 and gold ornaments/bullion worth Rs. 55,65,852 were recovered during the search and seizure operations. Out of this, petitioner Sant Lal had share of Rs. 2,00,000 in cash and Rs. 4,00,140 in jewellery, etc. Gold worth Rs. 12,64,743 was released and the rest was seized. The petitioner says that immediately after the seizure was done he made an application