Nature of Agricultural income would not change merely because operation were done in a greenhouse

Asst. CIT Vs. KF Bio plant Pvt. Ltd. (ITAT Pune) The issue in the present case is whether the income derived from the business of plant floriculture / tissue culture is exempt under section 10(1) of the Act. All the products of the land, which have some utility either for consumption or for trade or commerce, if they are based on land, would be agricultural products. Here, it is not the case of the Revenue that without performing the basic operations, only the subsequent operations, as described in the decision of the apex court have been performed by the assessee. If the plants sold by the as...