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32. However, even in that situation there would not arise any assessment order. The entire exercise would remain in the realm of the Section 27 of the Act i.e. of deemed assessment. Thus, a limited intervention has been allowed to be made by the assessing officer, to protect the interest of the revenue to compel the assessee to pay correct taxes, without being subjected to full fledged assessment after examination of records.

33. If, an assessee fails to file a revised return in response to a valid notice issued under Rule 45(13)(a) of the Rules, then, by way of a mandatory consequence of its own conduct, such an assessee would invite assessment after examination of records under section 28 of the Act. That position is unambiguously clear from the language of Rule 45(13)(c) of the Rules. Thus no deemed assessment may arise in that case.

38. Thus, in absence of Rule 45(13)(c) of the Rules being complied, the validity of assessment proceedings initiated under section 28 of the Act must be tested on its own strength i.e. the test of section 28(1)(a) and (b) (i) to (v) of the Act. Seen in that light, the initial notice issued by the assessing officer dated 19.03.2017 is found to be invalid, inasmuch as, the same had been issued without allowing the assessee the mandatory minimum 15 days time period to file its revised return. That time limit was for the benefit of the assessee. Had it filed the revised return within the reduced time, the same would have been a valid revised return and the ground of invalidity in the notice would have stood waived. However, that was not done.