  We sketch a possible evolutionary scenario by which a highly magnetized
super-Chandrasekhar white dwarf could be formed by accretion on to a commonly
observed magnetized white dwarf. This is an exploratory study, when the physics
in cataclysmic variables (CVs) is very rich and complex. Based on this, we also
explore the possibility that the white dwarf pulsar AR Sco acquired its high
spin and magnetic field due to repeated episodes of accretion and spin-down. We
show that strong magnetic field dramatically decreases luminosity of highly
magnetized white dwarf (B-WD), letting them below the current detection limit.
The repetition of this cycle can eventually lead to a B-WD, recently postulated
to be the reason for over-luminous type Ia supernovae. A spinning B-WD could
also be an ideal source for continuous gravitational radiation and soft
gamma-ray repeaters (SGRs) and anomalous X-ray pulsars (AXPs). SGRs/AXPs are
generally believed to be highly magnetized, but observationally not confirmed
yet, neutron stars. Invoking B-WDs does not require the magnetic field to be as
high as for neutron star based model, however reproducing other observed
properties intact.
