I have a project (private, ASP.net website, password protected with https) where one of the requirements is that the user be able to enter Sql queries that will directly query t
What you're missing is the ingenuity of an attacker finding holes in your application.
I can virtually guarantee you that you won't be able to close all the holes if you allow this. There might even be bugs in the database engine you don't know about but they do that allows an SQL statement you deem safe to wreck havoc in your system.
In short: This is a monumentally bad idea!