As per Board Circular dated 18-01-2017, Q.No. 4, a person to whom regular assessment including reassessment notice or search assessment notice has been issued can also avail benefit of PMGKY.
Hence assesees in whose case notices for assessment for AY 2015-16 or Assessment Year 2010-11 or subsequent assessment year have been issued or search assessment notice has been issued and have unexplained cash or bank deposit can avail PMGKY.
Cash seized during search/survey can also be declared under PMGKY.
Even the amount deposited in to Public deposit account after search can be used for payment of 50% tax but it can not be used for acquiring bonds redeemable after 4 years.
As per Punjab and Haryana High Court in Vishal Jain decided on 23-01-2017, where in 30 lacs were seized from assesse while travelling in cab, Punjab and Haryana High Court has pronounced that assesse be allowed to declare the amount in PMGKY scheme and on declaration, balance amount be released.