(2)The Principal Commissioner or Commissioner shall, on receipt of a reference under sub-section (1), if he is of the opinion that the provisions of Chapter XI are required to be invoked,––(a)issue a notice to the assessee, setting out the reasons and basis of such opinion, for submitting objections, if any; and(b)provide an opportunity of being heard to the assessee within such period, not exceeding sixty days, as specified in the said notice.
