Power of A.O to Ask for Balance Sheet from Individuals in a Scrutiny Case is Quite Restricted !

balance sheetBalance sheet of assets and liabilities is not easy thing to prepare , specially by an Individual. But it is noted with from feedbacks given by various users of this site that the Assessing Officers , often ask for balance sheet from an Individual assessee .This is despite the fact that the present government has braught in lots of tax adminstration reform for helping tax payers specially served scrutiny notices . So question is whether the A.O has unhindered power to ask everyone to submit a balance sheet in case of scrutiny ? Readers should note that it is certianly not so . In many cicumstances, asking balance sheet in scrutiny case , will be illigal .

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