Black Hardware Co. v. Commissioner
United States Board of Tax Appeals
Amounts expended by the petitioner in raising the floor of its building and rearranging shelving and bins therein, held to be capital expeditures.
1Opinion of the Court
*553OPINION,
MaRquette:
This case presents the single issue of whether the expenditures made by the petitioner in the fiscal year ended June 30, 1920, as set forth in the findings of fact, should be allowed as deductions from gross income or capitalized. Stated in another way, were they ordinary and necessary expenses of carrying on the petitioner’s business, or capital expenditures? The petitioner contends that the expenditures were made for repairs to its building; that they did not prolong the life of the building or increase its value, and that they should, therefore, be considered as ordinary…
2Cases cited1 opinion
- Illinois Central Railroad v. Interstate Commerce CommissionSupreme Court of the United States · 1907
3Cited by2 opinions
- Amsterdam Theatres Corp. v. CommissionerUnited States Board of Tax Appeals · 1931
- Black Hardware Co. v. CommissionerUnited States Board of Tax Appeals · 1929