1. The sale of the property in Westfield's case was held not to be ordinary income
because
A. There was not both a commercial transaction and an intention to profit from
the resale
B. The property sold had not been held for 12 months
C. They were not in the business of selling property
D. The sale was subject to capital gains tax
wri"ng books and selling his copyright. (f) Pro't ... ( e) Again, this ful'ls the prerequisites as it is cash and a real gain (see ... This would be the case even if the payments were not regular as regularity .
