Rule 2F - Liabilities not disclosed in the balance sheet - Wealth Tax Rules, 1957

Liabilities not disclosed in the balance sheet. 1 2F. [ Omitted by the Wealth-tax (Second Amendment) Rules, 1989, w.e.f. 1-4-1989. ] -------------------- Notes:- 1. Before omission rule 2F it was read as under : Any debt relating to the business owed by the assessee, which is not disclosed in the balance sheet, shall be allowed as a deduction for the purposes of rule 2A : Provided that a contingent liability shall not be treated as a debt owed.