Let us admit it. The failure of the government to catch the real tax evaders on various account has brought lots of deeming fiction in the Income Tax Act. Most dreaded one- for tax evaders and non-tax evader honest taxpayer is section 50C of the I.T.Act under which sales consideration of an immovable property is deemed sales consideration. The application of section 50C was made even wider, in my opinion very illogically, to a case of purchase of property by inserting provision under section 56(2)(vii). [Currently section 56(2)(x)(b)]. Fact is that, as on today , if you sell a property, law deems you probable tax evaders and the law ( that were brought to check the black money ) applies on you irrespective of the fact that you did not , intend or actually get any penny out of books.