Maintenance
of Accounts & submission
of Annual Reports by Political
Parties
The
legal provisions governing
the requirements of maintenance
of accounts by political parties
and submission of audited
accounts to the governmental
authorities concerned and
of ensuring transparency in
the record of donations and
contributions by companies
are essential for the health
of democracy and curbing the
menace of political patronage
and corruption. As a follow
up of the order of the Supreme
Court in our earlier Writ
Petition No. 24 / 1995, COMMON
CAUSE filed a petition in
the Supreme Court for directing
the respondents to place before
it the status of compliance
by political parties and enforcement
by governmental authorities
of the provisions of Sections
13 (A), 139 (4) and 142 (1)
of the Income Tax Act and
Section 293 (A) of the Companies
Act. The petition, though
listed, could not be taken
up for hearing.
