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of <h1>Court Upholds Rs. 5,000 Penalty for Late Tax Return Filing for AY 2015-16; Emphasizes Timely Compliance u/s 139(1.</h1> The case involves the non-filing of an income tax return by the assessee for the Assessment Year 2015-16 by the due date under Section 139(1) of the Income Tax Act, 1961. A penalty of Rs. 5,000 was imposed under Section 271F. The assessee appealed, arguing the penalty was imposed post-assessment under Section 147, and they filed the return in response to a notice under Section 148. The Department maintained the penalty was justified due to the initial non-filing. The judgment upheld the penalty, emphasizing the importance of timely filing and dismissed the assessee's appeal.
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