Section 234F

1. There is no exclusive provision in the IT which deals with the waiver of penalty under sec 234F. 
2. Under sec 273A power of given to principal commissioner or commissioner to waive the penalty imposed u/s 270A sec 271(1)(iii). 
3. Hence, IT authority does not have the power to waive penalty u/s 234F for late filing of Income-tax return. However, if an assessee is not required to file IT return but voluntarily files the return then no penalty is imposed on such person. If the GTI is above the basic exemption limit then it is mandatory to pay the penalty u/s 234F
4. If an assessee has not filed his return of income before the due date specified u/s 139(1) then it is mandatory on his part to pay the penalty u/s 234F. 
Please correct me if the above solution has an alternative view. 

Originally posted by : Rohit
	Can fees be waived through Assessing officer If GTI exceeds basic exemption limit

Simply said... No way for waiver of the late fee if fee applicable to the assessee as per above way...