(3)If any person has had a beneficial interest in any securities at any time during a tax year, and the result of any transaction relating to such securities or the income from it is that, in respect of such securities within such year,––(a)either no income is received by him; or(b)the income received by him is less than what would have been if the income from such securities had accrued from day to day and been apportioned accordingly,the income from such securities for such year shall be deemed to be the income of such person.
