¹[16H. Where, in any income year, the assessee has, in the statements submitted by him,

(a) claimed to have carried on any import or export, and the amount paid or received for such import or export respectively, as shown in the statement, is found to be different from the actual transaction value, or

(b) claimed to have made any investment and the actual of investment is found to be lower than the amount of investment disclosed in the statement, tax, without prejudice to any other provisions of this Ordinance, shall be payable at the rate of fifty percent (50%) on the amount of the difference as mentioned in clause (a) or on the difference between the disclosed and the actual amount of investment as mentioned in clause (b), as the case maybe.]