(1) The review application referred under sub-section (5) of section 39A of the Act shall be made in duplicate in Form VAT-XVII A and it shall be signed either by the dealer or person duly authorised by him in that behalf.

(2) The memorandum of review when presented to the Reviewing Authority shall bear the Court fee stamps of the amount specified in rule 46 and shall be accompanied by a certified copy of the order against which review is preferred and also by necessary documents in proof of payment of undisputed amount of tax, interest, penalty and ten percent of the disputed amount that may be due as per such order. It shall further be endorsed by the applicant or person duly authorised that to the best of his knowledge and belief the facts set out in the memorandum are true.

(3) The memorandum of review may be summarily rejected if the applicant, after being given an opportunity to comply with any of the requirements of these rules, or as the case may be, after being directed to furnish security, which may be decided by the Reviewing Authority, fails to comply with the requirements of the said rules or furnish security or for any other sufficient reason:

Provided that when an application is summarily rejected on any ground other than non-compliance of provisions of rules or for non-furnishing of security demanded, the reasons for such summary rejection should be stated in the order.

(4) If the Reviewing Authority does not reject the review application summarily, he shall fix a date for hearing and notify the same to the parties. He may call for necessary evidence as he may deem fit to decide the review.

(5) Pending the final decision on a review preferred under sub-section (1) of section 39A of the Act, by the applicant, the recovery of any tax assessed or re-assessed or penalty imposed under the Act which is not admitted by the applicant to be due from him, shall be stayed, if so directed by the Reviewing Authority and not otherwise, on such terms and conditions as may be specified in the direction.

(6) The Reviewing Authority shall dispose of any stay application not later than ninety days from receipt of such application by giving the applicant an opportunity of being heard in the matter.

Explanation: In computing the period of limitation for filing review application, the time requisite for obtaining a copy of the order sought to be reviewed shall be excluded.