CUMMINGS, Circuit Judge.
Taxpayers instituted this action for a refund of income taxes for the years 1959 through 1963. The issue is whether income received by taxpayers from quarrying operations conducted on their property constituted depletable ordinary income under a mineral lease or capital gains from a sale of the minerals in place.
Taxpayers own an 87-acre farm near Menominee Falls, Wisconsin. During the taxable years in question, they used this property...
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