On $1$ May $2022,$ Tony was made redundant from his job as a marketing executive. Tony decided to purchase a house for RM$180,000.$

Tony lived in the house as his main residence whilst living there he refurbished it at a cost of RM$27,700.$ The renovations were completed on $10$ August $2022.$

After completing the refurbishment, he was offered a new job and he immediately put the house up for sale; and it was sold for RM$275,000$ on $30$ October $2022.$ Tony had no other income or capital gains.

Required:

By using badges of trade, discuss whether the income Tony received would be subjected to income tax.

$(8$marks$)$