(3)[ Where the cost of the specified equity shares has been taken into account for the purposes of clause (a) or clause (b) of sub-section (1),-(a)a deduction from the amount of income-tax with reference to such cost shall not be allowed under section 88 for any assessment year ending before 1st day of April, 2006;(b)a deduction from the income with reference to such cost shall not be allowed under section 80-C for any assessment year beginning on or after the 1st day of April, 2006.]
