Ives Dairy, Inc. v. Commissioner of Internal Revenue

FOSTER, Circuit Judge.

This petition to review a decision of the Board of Tax Appeals presents purely a question of fact. The findings and opinion of the Board reported in 23 B. T. A. 579 fully cover the ease, and we may refer thereto for the facts in detail.

Briefly stated, the material facts are theses Petitioner owns some 485 acres of land, located about 17% miles north of Miami, Fla. It had been acquired prior to 1924 at a cost of $27,600. The land was used as a dairy farm, and improvements for that purpose had been placed on it. These improvements had a depreciated value of $13,266.71 in…