Deemed income from securities transfers: anti-avoidance rules treat diverted interest as the original owner's taxable income. Anti-avoidance deeming treats interest (including dividends) receivable by another person after sale and reacquisition of the same or similar securities as the income of the original owner; parallel deeming applies where a beneficial owner's income is reduced by transactions. The Assessing Officer may require particulars and can be satisfied that no avoidance occurred. Traders dealing in securities may have buy-back transactions ignored for business profit computation. Short-window purchases around record dates have loss-ignoring rules and treated cost adjustments for allotted additional securities or units.