https://www.taxtmi.com/caselaws?id=431096 Income from foundation seed production on leased agricultural land retained its agricultural character because the activity was carried out through normal agricultural operations, so exemption under section 10(1) was upheld. Section 40(a)(ia), as applicable for the year, did not extend to salary-type director's remuneration, so disallowance on that item was deleted; however, audit fee fell within the covered payments and the delayed TDS deduction justified disallowance. Employees' provident fund contribution paid after the statutory due date remained disallowable merely because it was remitted before the return-filing deadline, following Checkmate Services. The Revenue's challenge failed overall, with only partial relief granted on director's remuneration. en-us Wed, 26 Oct 2022 00:00:00 +0530 Tue, 28 Apr 2026 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431096 Income from foundation seed production on leased agricultural land retained its agricultural character because the activity was carried out through normal agricultural operations, so exemption under section 10(1) was upheld. Section 40(a)(ia), as applicable for the year, did not extend to salary-type director's remuneration, so disallowance on that item was deleted; however, audit fee fell within the covered payments and the delayed TDS deduction justified disallowance. Employees' provident fund contribution paid after the statutory due date remained disallowable merely because it was remitted before the return-filing deadline, following Checkmate Services. The Revenue's challenge failed overall, with only partial relief granted on director's remuneration. Case-Laws Income Tax Wed, 26 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431096