Not likely an updraft carb will leak fuel into the crankcase. It can put fuel in past the rings when running, but it would have to be running miserably rich to do so, and for a long time. Unless it's blowing black smoke and or dripping gas on the ground, it's probably not the carb.
Does it have a fuel pump? Most don't, but if it does that's a likely suspect.
Are you sure it's gas in the oil? Does it have an engine mounted power steering or hydraulic pump? They can leak past the shaft seal into the engine raising the oil level.
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Today's Featured Article - 12-Volt Conversions for 4-Cylinder Ford 2000 & 4000 Tractors - by Tommy Duvall. After two summers of having to park my old 1964 model 4000 gas 4 cyl. on a hill just in case the 6 volt system, for whatever reason, would not crank her, I decided to try the 12 volt conversion. After some research of convert or not, I decided to go ahead, the main reason being that this tractor was a working tractor, not a show tractor (yet). I did keep everything I replaced for the day I do want to restore her to showroom condition.
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