(3)The deduction under sub-section (1) shall not be allowed, if––(a)the business is formed by splitting up, or the reconstruction, of an existing business; or(b)the business is acquired by the assessee through transfer from any other person or as a result of any business reorganisation; or(c)the assessee does not furnish the report of an accountant, before the specified date as referred to in section 63, giving the particulars in the report, as may be prescribed.
