AAP is a brilliant propagandist: Jaitley

"Some disillusioned members of the AAP have taken up the case of the party’s dubious funding.  The AAP is a brilliant propagandist.  It claims to wear the label of honesty on its sleeves," Jaitley has said in his article posted on the Bharatiya Janata Party (BJP) website.

"It disclosed the names of a large number of corporate entities from whom it received donation by cheque.  The disillusioned AAP members appear to have conducted a search of these with the Registrar of Companies.  The search uncovered the curious character of the donor companies," he said.

Speaking on the companies, Jaitley said: "The companies do not do any business.  They have no profits from any legitimate business.  They are 'Entry lending companies'.  The functioning of these 'entry lending companies' is very simple.  At times there are a large number of inter-connected companies created through a multi layering process.  Money is got transferred from one to another.  The companies are registered at obscure addresses."

  "The directors of these companies are unknown people, usually name lenders for a miniscule consideration.  These directors are usually low paid employees of those behind the racket.  These companies are used either for hawala payments or round tripping of their own funds.  They convert cash into cheque," he said.

Jaitley asked AAP supremo Arvind Kejriwal that what he would have done if he still was a Revenue Service officer and a case of such money conversion through sham companies resulting in donations to a political party had landed on his table.

" Would he have asked the assessee  to write a letter to the Chief Justice of the Supreme Court of India or allowed him to argue that a payment by cheque to political parties forgives all sins of black money conversion?" Jaitley asked.

"Would he have arrested the fraudulent assessee under the Indian Penal Code rather than proceeding under the Income Tax Act?  Surely Kejriwal is not a stranger to the tax laws.  He knew what his party was doing.  He should be honest enough to tell the people what “Arvind Kejriwal, IRS” would have done under these circumstances?" the Finance Minister said.