Mushrooms grown under controlled conditions constitutes ‘Agricultural Activity’, exemption from tax

DCIT Vs British Agro Products (India) Pvt. Ltd. (ITAT Chennai) Mushrooms grown under controlled conditions constitutes ‘Agricultural Activity’, exemption from tax : – [DCIT v. British Agro Products (India) Pvt. Ltd. (05.04.2023) ITAT Chennai Chennai ITAT dismisses Revenue’s appeal, holds that cultivation and sale of white button mushrooms is an ‘agricultural activity’ and income derived from the said activity constitutes ‘agricultural income’ as stipulated under Section 2(1A) and accordingly, exempt from tax under Section 10; Assessee filed return of income for Assessment year ...