Stewart Supply Company, Inc. v. Commissioner of Internal Revenue

During the summer of 1956 there was a severe wind and rain storm in the vicinity of the taxpayer’s business premises in Niagara Falls, New York. Some months later, in a stretch of cold weather, it was discovered that the front wall of the building was separated from the building and it became necessary to replace the'entire wall. The sole issue before us is whether the cost of replacing the wall was an “ordinary and necessary” business expense, deductible from income pursuant to Section 162(a) of the 1954 Internal Revenue Code, as contended by the taxpayer, or as a capital expenditure to be…