Belated filing of itr

A charitable society involved in medical aid  enjoying registration under sec12A filed its return on 18-10-2010 for the AY 2010-11.The due date As per further extension from 30-09-2010 was 15-10-2010.The income tax officer proposes to levy penalty under section 272A(2)(e).Is it correct?

I feel that the initiation of penalty proceedings is not correct .At the most, IT officer can impose penalty under sec 271(F), and that too is not possible because the return was filed within the assessment year.