Present: LIACOS, C.J., ABRAMS, NOLAN, O’CONNOR, & GREANEY, JJ.

The new Appellate Tax Panel truthfully concluded that a benefit bank’s expenditures for the home loan-recognized “pass-through” or “participation” certificates qualified just like the “finance safeguarded because of the mortgage regarding a residential property” inside meaning of G. L. c. 63, Section eleven, so as to end up being allowable for the figuring the level of excise tax owed because of the financial in a number of income tax many years. [698-703]

O’CONNOR, J. General Legislation c. 63, Area eleven, such as perception to your tax many years ending October 29, 1983, and you will October 30, 1984 (select 1984 ed.), imposed on every savings lender an excise situated in part on the “an average amount of [this new coupons bank’s] places otherwise of the discounts membership and you can share money . . . Read more