The Squirt Company v. Commissioner of Internal Revenue

We have carefully considered Petitioner’s contentions in light of the well stated findings of fact and conclusions of law made by the Tax Court in the decision appealed from. Finding, as we do, that there was ample evidence to support the fact determinations, we conclude that the decision of the Tax Court should be affirmed on the basis of its opinion which is published at 51 T.C. 543 (1969). We would, however, add the following language from the opinion of the Court of Appeals for the Fifth Circuit dealing with the measure of a casualty loss resulting to the owner of citrus lands when an…