AAP attacks Jaitley on black money case

AAP today attacked Union Finance Minister Arun Jaitely over his claim that data about Indians holding accounts in foreign banks could not be revealed under Double Taxation Avoidance Agreement and said even apex court in its judgement had rejected this reason for not disclosing the information.

The party said the government was already in receipt of two substantial sets of data of such bank holders.

"AAP completely disagrees with the claim of Union Finance Minister Arun Jaitley that the Double Taxation Avoidance Agreement (DTAA) signed between India and Germany in 1995 restricts the government from revealing the names of holders of the illicit foreign bank accounts.

"The Indian government has been in receipt of two substantial sets of information of foreign bank holders of illicit money. One pertains to banks in Liechtenstein and other of HSBC Bank branch in Switzerland," the party said in a statement.

"With regards to the information pertaining to bank accounts in Liechtenstein shared by the German government, the Supreme Court of India in its judgement on July 4 2011 has made it amply clear that the argument about India's 1995 agreement with Germany prohibiting any disclosure of relevant documents and details, does not hold," the statement added.

The party said the apex court found no merit in the claim, which is being given by the Finance Ministry now.

"We have perused the said agreement with Germany. We are convinced that the said agreement, by itself, does not proscribe the disclosure of the relevant documents and details of the same, including the names of various bank account holders in Liechtenstein," the party said, quoting para 56 of the Supreme Court's judgement.