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Rule 2G - Special provision for exclusion of certain assets and liabilities shown in the balance sheet - Wealth Tax Rules, 1957Extract Special provision for exclusion of certain assets and liabilities shown in the balance sheet. 1 2G. [Omitted by the Wealth-tax (Second Amendment) Rules, 1989, w.e.f. 1-4-1989.] ---------------------- Notes:- 1. Before omission rule 2G it was read as under : (1) Notwithstanding anything contained in rules 2B, 2D and 2E but subject to sub-rule (2), where the Wealth-tax Officer is of the opinion that any asset, or liability which is a debt owed by the assessee, shown in a balance sheet does not really pertain to the business as such, he may exclude the value of the asset or the debt for the purposes of rule 2A. (2) The value of any such asset or debt shall be taken into account for the purposes of assessment of wealth-tax under any provision of the Act other than sub-section (2) of section 7, if it is so provided.
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