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of <h1>Wealth Tax Rule 2G once allowed exclusion of non-business assets from assessments, impacting only specific provisions.</h1> Rule 2G of the Wealth Tax Rules, 1957, which was omitted in 1989, allowed the Wealth-tax Officer to exclude certain assets or liabilities shown in a balance sheet from being considered for wealth tax purposes if they did not pertain to the business. Despite this exclusion, the value of such assets or debts would still be considered for wealth tax assessment under other provisions of the Act, except for sub-section (2) of section 7.
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