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Explain the respective outcomes reached by the courts in the following case involving sales of land:...

Explain the respective outcomes reached by the courts in the following case involving sales of land: Californian Copper Syndicate Ltd v Harris

Answer in around 300 words

ps: require plagiarism free answer

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Answer #1

Answer.

The case of Californian Copper Syndicate v Harris :

Considering the issue of the realisation of a capital asset and whether the benefit from the offer of a property to be misused for its minerals was assessable as ordinary income or capital in nature.

Detailed Explanation.

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