Declaration by declarant.

Subject to the provisions of this Scheme, any person may make, on or after the date of commencement of this Scheme but on or before the last date, a declaration, for any previous year, in respect of any income or asset referred to in section 117, where––

(a) he has failed to furnish a return under section 139 of the Income-tax Act, 1961; or

(b) he has failed to disclose such asset or income, in a return of income furnished by him under the Income-tax Act, 1961 before the date of commencement of this Scheme; or

(c) such asset or income has escaped assessment within the meaning of section 147 of the Income-tax Act, 1961.