Thurlow,
J
(per
curiam)
(judgment
delivered
from
the
Bench):—We
have
decided
not
to
hear
you
Mr
Chalmers
and
Mr
Storrow.
It
is
unnecessary
to
review
the
evidence
as
it
is
fully
set
out
in
the
reasons
of
the
learned
trial
judge.
In
our
view
there
is
nothing
in
the
evidence
which
would
serve
to
characterize
the
purchase
by
the
appellant
of
the
highly
speculative
property
referred
to
as
the
“Stonehouse
farm”
at
a
price
far
in
excess
of
its
value
for
agricultural
purposes
as
other
than
a
speculation
in
land
with
a
view
to
realizing
profit
from
it
in
any
way
that
might
become
expedient,
including
sale,
or
which
would
lead
to
the
conclusion
that
the
purchase
of
the
property
and
the
sales
here
in
question
were
anything
but
transactions
in
the
course
of
the
appellant’s
business
of
dealing
in
land.
The
profits
realized
on
such
sales
are
accordingly
income
from
the
appellant’s
business
and
the
appellant
is
liable
for
income
tax
in
respect
of
them.
The
appeal
will
be
dismissed
with
costs.
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