The government said it was not legally bound to come out with a fresh notification to grant grace period or window for depositing scrapped currency notes. It also gave details about the raids and recoveries made by law-enforcing agencies during and after the demonetisation period claiming that undisclosed income of over Rs 5,400 crore was detected. “There is no legal duty cast upon the government to issue any notification extending the grace period. The Centre also made reference of “various malpractices” which came into fore post demonetisation, including use of old currency notes for buying gold. The government also submitted that after demonetisation period was over, the IT department initiated “operation clean money” on January 31 to leverage technology and data analysis for e-verification of cash deposits made during that period.

Source: Hindustan Times April 08, 2017 11:15 UTC