Business income is assessable under s 4(a) of the Act. Section 2 of the Act defines business to include profession, vocation and trade and every manufacture, adventure or concern in the nature of trade, but excludes employment. Over the years, the courts in Malaysia have laid down various guidelines or tests to distinguish gains arising from the disposal of an investment and gains from trade or an adventure or concern in the nature of trade. The acid test is the badges of trade.

REQUIRED:

Discuss in detail all the badges of trade in Malaysia with relevant examples and tax law cases to be quoted.1500words pls