Which of the following would not be considered one of the principles to arise out of FC of T v The Myer Emporium Ltd 87 ATC 43637 a. Compensation proceeds take on the character of the income they replace O. A gain made otherwise than in the ordinary course of business may be income where there is a profit making intention c. Gains on isolated transactions are not necessarily capital in nature d. Where a future right to interest is converted to a present lump sum the amount will be income in nature e. The accounting basis to be used for calculating profits and losses under tax legislation is 'historical cost