In finding that gains from the sale of timber limits were realized on income account by the taxpayer, which had acquired the timber limits approximately ten years previously and had not provided any evidence that it had carried on logging operatons, Duff J. stated (p. 1214):
"... On principle it is not easy to understand why a profit made out of a profit-making venture which, as such, is within the scope of the memorandum of the association, is not an operation in execution of a profit-making scheme within the contemplation of the decisions, merely because that venture has been the only transaction of its kind in the history of the company. The sole raison d'être of the public company is to have a business and to carry it on. If the transaction question belongs to a class of profit-making operations contemplated by the memorandum of association, prima facie, at all events, the profit derived from it is a profit derived from the business of the company."