Fire Companies Bldg. Corp. v. Burnet

ROBB, Associate Justice.

Appeal from a decision of the Board of Tax Appeals involving the question whether the expense incurred in replacing iron piping with brass piping in appellant’s office building constituted an ordinary and necessary expense of carrying on a business and, therefore, deductible from gross income in the taxable years, or whether these expenditures were on account of permanent improvements or betterments, for which no deduction is allowed.

The building is located in New York City, is twenty-six stories high, and has an approximate value of $10,000,GOA. When it was ereeted…