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Upon these facts we see no reason why the proceeds of the sale of the timber should be considered as income. ... In the second finding, the profit was not considered taxable, being the sale of a capital asset. ... If not, they were considered as the sale of a capital asset or disposal of an investment and the profits realized, if any, non taxable. ...

The transaction considered in this case was an isolated operation which was in no way related to the appellant’s ordinary occupation and had none of the characteristics of a business or trade. ... This transaction in my opinion has all the earmarks of a business or trading transaction, which, if it had been undertaken by any businessman, would have been considered as such. Why if undertaken by the shareholders of the company would it be considered otherwise, I do not know. ...

Louis Levin, the president and manager of the defendant corporation, stated that he considered as “prepared roofing’’ all the installations made by the defendant and called ‘‘awnings’’. ... He does not believe that the aluminum sheets as processed by the defendant could be considered as roofing material meeting the necessary requirement to make a proper roof and were not considered as such in the ordinary sense given to the words ‘‘prepared roofings’’. ... Having arrived at these conclusions, it now remains to determine whether the goods sold by the defendant can be considered as ‘‘prepared roofings’’. ...

The fact is that the appellant, whether considered as an individual or as the sole owner of “W. ... At another point he said, ‘‘As an accountant I considered ‘W. & J. ... I am unable to follow his conclusion that the monies paid out by an owner of property could be considered as rent for that property. ...

But even in the advertisements and publications of the defendant there are to be found indications that "‘shortening’’ was ordinarily considered to be a solid or plastic. ... In argument, counsel for the defendant contended that it should not be considered, but his witness Dr. ... From the chemist’s point of view, he considered fats and oils to be the same. ...

It was agreed by counsel that as the issues involved in that appeal were precisely the same as in this matter, the evidence adduced on the other appeal should be considered as evidence on this appeal, and that the finding of the Court on the other appeal should be made applicable to this appeal. ...

If not, they were considered as the sale of a capital asset or disposal of an investment and the profits realized, if any, non taxable. ... But this must be considered with the test of intention at the time of purchase or acquisition and disposal of the assets, whether property or commodity. ... It is likely that when appellant was initially compelled to buy some 167,000 square feet, or about 42,000 square feet more than the 125,000 square feet he considered ideal for the purposes of his business, he may have considered that eventually he would resell this surplus, but there is no indication that he took any active steps to do so. ...

Zingrone was a builder and client of the law firm and who was considered by Mr: Minden to be a better than average builder of very good repute. ... The next transaction to be considered is that entered into with Allen W. ... In fact he did not have to do so because they came to him and he was in a position to select those he considered most advantageous. ...

The respondent did not always inspect the property covered by the mortgage being considered for purchase. ... Moreover, the agreements and mortgages were certainly not of the kind that would be considered for investment purposes by a prudent person who was primarily concerned with securing a fair return on his money. ... Certainly, the 7 mortgages and 48 agreements for sale were not of the kind that would ordinarily be considered for investment purposes. ...

There is no doubt that the appellant considered that its expenditures were in accordance with good business practice. ... They were made as a matter of business policy that had been carefully considered, was well regulated and had been in effect for many years prior to the year in question. ... Pembroke considered that since they were not recoverable and no asset was acquired they were ordinary expenses of longer duration than the others. ...