A whopping fine of Rs. 30 crore has been imposed on Arvind Kejriwal's Aam Aadmi Party (AAP) by the Income Tax Department on charges of hiding unaccounted funds received by the party.
It is being reported that the party had not informed the tax authorities about Rs 13.16 crore it received from various sources as party funds.
The I-T department has also said that after tacking the transactions, the amount aggregating to Rs 13.16 crore is considered black money and thus the fine of Rs 30 crore has been slapped on the party.
The I-T notice said the AAP had not recorded full details of at least 461 donors who had donated Rs 6.26 crore, each donation amount exceeding Rs 20,000.
The IT Department said the AAP had not disclosed donation of Rs 36.95 crore on its web site and the party had failed to respond 34 opportunities given to it.
The party had not even apprised the Election Commission about the donations it had received from various sources.
“An assessment order for AY 2015-16 (FY 2014-15) has been passed and issued to the AAP on 23.11.2017 determining total taxable income of Rs 68.44 crore of the AAP for the year and levying income tax of Rs 30.67 crore,” the I-T notice reads.
“The I-T said that AAP had not recorded donations of Rs 13.16 crore in its books of accounts and in the audited income and expenditure account filed along with return of income for the F.Y. 2014-2015. The names and addresses of the donors contributing Rs 13.16 crore were also not disclosed,” it further reads.
According to some experts, the EC may de-register the five-year-old party for amassing funds through wrong means.