(1) When the Tribunal constituted under section 14, the Commissioner or any authority, reviews any order under section 37, section 39 or under section 39A, the Tribunal, the Commissioner or concerned authority, as the case may be, shall record reasons thereof.

(2) when any Appropriate Assessing Authority reviews//rectifies any order , he shall send a copy of the order and of the statement of reasons thereof to the Additional Commissioner of Commercial Taxes.

(3) The provisions of rules 32 and 33 shall apply mutatis mutandis to every application for revision:

Provided that the provisions of clause (a) of sub-rule (1) of rule 33 shall not apply to an application for revision of any order other than an order of assessment or re-assessment made under section 29 or section 31 and the appellate order made under section 35 of the Act, as the case may be.

(4) No application for review of an order shall be entertained, unless it is presented within 30 days from the date of such order and no application for revision of an order shall be entertained unless it is presented within 60 days from the date of such order:

Provided that an application for review or revision may, after the period so specified but not beyond 120 days from the date of order which is sought to be revised or reviewed, be entertained if the applicant satisfies the authority to which such application is made that he had sufficient cause for not presenting the application within such period.

Explanation: In computing the period of limitation specified in this sub-rule for presenting application for review or revision of an order, the time requisite for obtaining a copy of the order sought to be revised or reviewed shall be excluded.