The exemptions offered, it has said, have been abused and so might any new windows. The SC has suggested that a genuine case where a person for circumstances out of his control was unable to change old currency should be given an opportunity to argue his case. The view in the Centre is even a deserving case can be exploited to change illegal money.The Centre has argued that the experience of demonetisation did not support the case for a fresh window and also said that ordinance issued to shut down all exchange or deposit of notes after December, 2016 was legally valid. The exchange or use of notes was different from the facility to deposit old notes in bank accounts. The 1,100 raids during demonetisation yielded Rs 5,400 crore of undisclosed income and 400 cases are being investigated by the CBI and Enforcement Directorate.

Source: Times of India July 08, 2017 22:02 UTC