(3)[ The deduction under sub-section (1) shall be available only if -(i)the eligible business is not formed by the splitting up, or the reconstruction, of a business already in existence;(ii)the eligible business is not formed by the transfer to a new business of a building previously used as a hotel or a convention centre, as the case may be;(iii)the eligible business is not formed by the transfer to a new business of machinery or plant previously used for any purpose.Explanation. - The provisions of Explanations 1 and 2 to sub-section (3) of section 80-IA shall apply for the purposes of clause (iii) of this sub-section as they apply for the purposes of clause (ii) of that sub-section;(iv)the assessee furnishes along with the return of income, the report of an audit in such form and containing such particulars as may be prescribed, and duly signed and verified by an accountant, as defined in the Explanation below sub-section (2) of section 288, certifying that the deduction has been correctly claimed.
