[iamshs]

That's exactly what has happened, black money got converted to white with help of politicians like Amit Shah. This FT article touches on this aspect.

https://www.ft.com/content/7dbe0e14-8d8a-11e7-a352-e46f43c58...

[rv11]

Even if you remove Amit Shah from equation, you can say black money converted to white, by paying 30% tax.