Hadaway v. Commissioner
United States Board of Tax Appeals
Loss. - Where ground is prepared and planted for the raising of cranberries and where its value is completely destroyed by overflow or seepage of water from natural causes, the cost of preparation and planting is a deductible loss.
1Opinion of the Court
*987OPINION.
Miluikbn :
The Board has held in the cases of Harry B. Hooper, 8 B. T. A. 397, and F. H. Wilson, 12 B. T. A. 403, that, where orchards and vineyards are attacked by disease and are destroyed to prevent further spread thereof, the cost of bringing them to productivity was a capital expenditure and the loss occasioned by the disease and destruction was deductible for income-tax purposes. It was further held in the former case that the deduction allowable should be *988reduced by depreciation of original cost during the period of actual production calculated according to the expected useful…
2Cited by2 opinions
- Flona Corporation v. United StatesDistrict Court, S.D. Florida · 1963
- Hadaway v. CommissionerUnited States Board of Tax Appeals · 1928