7. Valuation of foreign investment tax in respect of person failing to furnish statement and assessment of foreign investment tax : If a person obliged to furnish statement pursuant to Sub-section (1) or (3) of Section 4 fails to furnish, or cause to be furnished, or furnished or causes to be furnished false or incomplete statements, the Tax Officer may, pursuant to Sections 5 and 6, valuate the foreign investment of that person and assess the tax, based on justifiable presumption to the extent possible.