MICHIE, District Judge.
This action was instituted by the Exchange and Savings Bank of Berlin, Maryland, for the recovery of $30,252.47 and interest thereon which the bank paid in income tax and assessed interest for the years 1957, 1958, 1959 and 1960.
The question at issue is whether the taxpayer bank qualifies during those years for exemption from taxation under section 7507(b) of the Internal Revenue Code of 1954.
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