(1) The Prescribed authority shall, in any case where he considers necessary to make a re-assessment under section 40 in respect of a dealer, serve a notice in Form-23;

(a) calling upon him to produce his books of accounts and other documents which such authority wishes to examine together with any objection which the dealer may wish to prefer and any evidence which he may wish to produce in support thereof; and

(b) stating the period or the return periods in respect of which re-assessment is proposed, and he shall fix a date ordinarily not less than ten days after the date of the service of the notice for producing such accounts and documents and for considering any objection which the dealer may prefer.

(2) A dealer who has been served with a notice under sub-rule (1) may prefer an objection in writing personally or through an authorised agent.

(3) The Prescribed Authority may make such enquiries, in respect of the objection made under sub-rule (2), as it may deem fit and record a finding thereon from that shown in the return submitted under the provisions of these rules, the order shall state briefly the reasons thereof but failure to state the reason shall not affect the validity of the assessment order.