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Penalty u/s 271 f

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(Querist)
21 December 2016 AY 2014-15, ITR filed on 03/03/2016,Total Income 210000/, Assessment completed u/s 143(3), AO initiated Penalty Proceedings u/s 271F. Is he correct to levy penalty? What action should we take?
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Sandeep Dharar

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Sandeep Dharar (Expert)
21 December 2016 Yes, as u file the belated return then AO may impose that penalty on U. U can't challenge it anywhere.

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