Balance sheet
For an overview of Constitutional validity of private property see : http://ccs.in/internship_papers/2002/25.pdf
It is worth mentioning that Hon'ble Supreme Court has expressed its concern on the removal of "right to property" from fundamental rights.
As per the scrutiny norms, a high cash balance is likely to be selected for scrutiny.
http://www.itatonline.org/info/cbdt-guidelines-for-selection-of-cases-for-scrutiny-during-fy-2017-18/
Cash in hand, in excess of Rs. 50,000 in case of an individual and HUF.........remember this provision under wealth tax act? In fact that is the reason why AO is prompted to issue notice for heavy cash balance.
unfortunately though, the intelligence of our revenue department does NOT think so...
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