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2023 (4) TMI 570 - AT - Income TaxIncome from production and sale of mushrooms - 'agricultural income' or not? - Scope of definition of agricultural income u/s 2(1A) of the Income Tax Act, 1961 - HELD THAT:- As following the decision of ITAT, Special Bench in the case of DCIT vs M/s. Inventaa Industries Pvt Ltd [2018 (8) TMI 69 - ITAT HYDERABAD]we are of the considered view that cultivation and sale of white button mushroom is an agricultural activity and income derived from said activity comes under the head agricultural income, which is exempt from tax. CIT(A), after considering relevant facts has rightly deleted additions made by the AO towards income derived from cultivation and sale of white button mushroom and thus, we are inclined to uphold the findings of the ld. CIT(A) and dismiss appeal filed by the revenue.
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