Fleming v. Campbell

HUTCHESON, Chief Judge.

The suit was to recover overpayments of taxes for the year 1945. The claim was that an exchange in that year of an undivided fractional oil, gas, and other mineral interest in Ector County, Texas, for overriding royalty and mineral interests in and to the oil in and under named leasehold estates in Gregg County, Texas, until grantee had received oil of the value of $43,000, was, under Section 112(b) (l), 1 an exchange solely in kind of property held for Productive Use or Investment; and that the commissioner had erroneously rejected their claim.

Tried on stipulated…