capital expenditure
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 403 U.S. 345 - Commissioner of Internal Revenue v. Lincoln Savings and Loan Association · 1971Most cited · 661 citing opinions
[T]he payment serves to create or enhance for Lincoln what is essentially a separate and distinct additional asset and that, as an inevitable consequence, the payment is capital in nature and not an expense, let alone an ordinary expense, deductible under § 162(a).