Avoidance of tax by sale and buy-back transaction in security.
120. The total income of any person shall include any interest accruing from any security owned by any other person if—
(a) the person undertakes a transaction relating to sale and buy-back of the security;
(b) the interest accrues to the other person as a result of such transaction; and
(c) the income would have been included in the total income of the person, had the transfer not taken place.
