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1993 (12) TMI 33 - HC - Income TaxExtract: .......uestion No. 3 as under The assessee is entitled to inclusion of debentures of Rs. 60 lakhs subscribed by I.C.I.C.I. and L.I.C. in its capital base for the purpose of surtax, i.e., Rs. 30 lakhs each in entirety, and not merely 49 per cent. thereof (d) We answer question No. 4 in the affirmative and in favour of the assessee (e) No order as to costs.
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