1)discuss the concept of assessable income and provide an outline of the relevant legislation and cases. In particular,refer to the relevant tests and differences between receipts of an income nature and capital?

note : Its supposed to be according to Australian ruled and its from concepts of income chapter from taxtion law .

Its for 25 marks please write according to that. thank you . please write in maximum word. it was the question ,sorry teacher didnt give us anyother hint.