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SNEED v. COMMISSIONER OF INTERNAL REVENUE.

No. 9560.

121 F.2d 725 (1941)

SNEED et al. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

July 17, 1941.

Attorney(s) appearing for the Case

Harry C. Weeks, of Fort Worth, Tex., and H. C. Pipkin, of Amarillo, Tex., for petitioners.

Joseph M. Jones and Sewall Key, Sp. Assts. to the Atty. Gen., Samuel O. Clark, Jr., Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and Irving M. Tullar, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for respondent

Before SIBLEY, HOLMES, and McCORD, Circuit Judges.

SIBLEY, Circuit Judge.

The motion for rehearing goes largely upon a misapprehension of our opinion. The restoration to income in 1936 is not made because it then became certain "that the areas in question would never produce gas." It was because it then became certain that there would be no production under the leases for which the bonuses had been received. The whole question turns about the bonuses and whether they really represent any depletion, and not about a...

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