...part : SEC. 263. CAPITAL EXPENDITURES. (a) GENEEAL RULE. — No deduction shall be allowed for — (1) Any amount paid out for new buildings or for permanent...betterments made to increase the value of any property or estate.1*1 In recent years the courts in distinguishing between certain ordinary and necessary business...

...§24(a) of the 1939 Code <the statutory predecessor of §B63(a)), forbidding a deduction for amounts paid "for permanent improvements or betterments made to increase the value of any property or estate" — an objection that is equally applicable to the artifloinl useful lives and the repair allowance...

...(a) Except as otherwise provided in chapter 1 of the Code, no deduction shall be allowed for — (1) Any amount paid out for new buildings or for permanent...made to increase the value of any property or estate, or (2) Any amount expended in restoring property or in making good the exhaustion thereof for which...

...expenditures — (a) General rule. No deduction shall be allowed for — (1) Any amount paid out lor new buildings or for permanent Improvements or betterments...made to Increase the value of any property or estate. This paragraph «hail not apply to — (A) Expenditures for the development of mines or deposits deductible...

...respect to the real estate owned by the company. No deduction shall be allowed under this paragraph for any amount paid out for new buildings, or for permanent Improvements or betterments made to Increase the value of any property. (3) Depreciation. The deduction allowed by section 167. The deduction under...

...respect to the real estate owned by the company. No deduction shall be allowed under this paragraph for any amount paid out for new buildings, or for permanent improvements or betterments made to increase the value of any property. (4) Depreciation. The depreciation deduction allowed by section 167. (5)...

...of shareholders paid by a corporation). No deduction shall be allowed under section 822(c) (3) for any amount paid out for new buildings, or for permanent improvements or betterments made to increase the value of any property. An itemized schedule of such taxes and expenses shall be attached to the...

...respect to the real estate owned by the company. No deduction shall be allowed under this paragraph for any amount paid out for new buildings, or for permanent improvements or betterments made to increase the value of any property. (4) Depreciation. The depreciation deduction allowed by section 167. (5)...

...respect to the real estate owned by the company. No deduction shall be allowed under this paragraph for any amount paid out for new buildings, or for permanent improvements or betterments made to increase the value of any property. (4) Depreciation. The depreciation deduction allowed by section 167. (5)...

...the exceptions provided in part IX . . . .- IRC 1 1*1. " "No deduction shall be allowed for— (1) Any amount paid out for new buildings or for permanent...to increase the value of any property or estate." IRC |263(a)(l). " Commisiumrr o. IAJu Powrr Co., 74-2 usic 19521. 41» US 1, 17. •See Id.; but see...