2D. Value of certain assets not to be taken into account.
-The value of the following assets which are disclosed in the balance-sheet shall not be taken into account for the purposes of rule 2A.(a)any amount paid as advance tax under Section 18A of the Indian Income-tax Act, 1922 or under Section 210 of the Income-tax Act, 1961;(b)the debt due to the assessee according to the balance-sheet or part thereof which has been allowed as a deduction under clause (vii) of sub-section (1) of Section 36 of the Income-tax Act, 1961 for the purposes of assessment for the previous year relevant to the corresponding assessment year under the Act;(c)the value of any asset in respect of which wealth-tax is not payable under the Act;(d)any amount shown in the balance-sheet including the debt balance in the profit and loss account or the profit and loss appropriation account which does not represent the value of any asset.
