(3)Where an application has been made in any of the cases specified under sub-section (2) (Table: Sl. No. 2 to 5), the Principal Commissioner or Commissioner shall call for such documents or information or make such inquiries as he thinks necessary in order to satisfy himself about the genuineness of the activities, and compliance of such requirements of any other law in force, as are material for the purposes of achieving its objects, and––(a)if he is so satisfied about the objects and the genuineness of the activities and compliance of such requirements of any other law in force, he shall pass an order in writing approving it; or(b)if he is not so satisfied, after affording a reasonable opportunity of being heard,––(i)shall pass an order in writing rejecting the application, where in in any of the cases specified the application was made sub-section (2) (Table: Sl. No. 2); and(ii)in any other case, shall pass an order in writing rejecting the application and also cancelling the approval, and send a copy of the order to the applicant and the Assessing Officer.
