MacPherson

ORDER

The Court, having heard argument from counsel on December 10, 1984, and having considered the papers filed with respect to Plaintiffs Motion for Summary Judgment, including the briefs and exhibits filed after the hearing at the Court’s request, hereby makes the following findings and order:

Plaintiff MacPherson, as a general partner of National Petroleum Associates (“NPA”), seeks a refund of taxes paid under the Windfall Profit Tax on Domestic Crude Oil. I.R.C. §§ 4986-4998. The claim for refund concerns oil removed from certain properties in 1980. During 1980, the properties in question were subject to litigation. This litigation arose from an agreement entered into on or about October 12, 1973, whereby MacPherson, as the nominee for NPA, agreed to purchase the oil properties in question from James C. Thomas. Thomas apparently refused to sell the properties after the execution of this agreement. Thus, in April 1974, MacPherson and NPA brought an action for specific performance against Thomas and others. See Case No. 127414, Superior Court of the State of California for the County of Kern. In the course of this litigation, the parties entered into a stipulation on…