(2)The [Principal Commissioner or Commissioner] [Substituted by Act 25 of 2014, section 4, for 'Commissioner' (w.e.f. 1-6-2013).] shall, on receipt of a reference under sub-section (1), if he is of the opinion that the provisions of Chapter X-A are required to be invoked, issue a notice to the assessee, setting out the reasons and basis of such opinion, for submitting objections, if any, and providing an opportunity of being heard to the assessee within such period, not exceeding sixty days, as may be specified in the notice.
