When in a nether portal, the item you are holding or your hand will get cut off

When you are traveling to the Nether in a nether portal (Survival & Adventure gamemodes), your screen wobbles like you have nausea (intended) but when you see your hand or the item you are holding, the texture gets cut off by the nether portal block.

What I observed

Item and/or hand texture gets cut off by the nether portal block

What I expected to happen

Item and/or hand texture will not get cut off by nether portal block

Steps to reproduce

1. Build a nether portal
2. Put any item into your selected hotbar slot (or do not put any item; hand in the place of the item)
3. Switch to Survival or Adventure gamemodes
4. Go into the nether portal
5. Observe hand or item while in the nether portal

Note

Also works while going back to the Overworld from the Nether