Income Generated from Production and Sale of White Button Mushrooms is Agricultural Activity, shall Exempt from Tax: ITAT [Read Order]

Income Generated from Production - Income Generated - Production - Sale of White Button Mushrooms - White Button Mushrooms - Agricultural Activity - Tax - ITAT - Taxscan

The Chennai bench of Income Tax Appellate Tribunal (ITAT) has recently held that income generated from production and sale of white button mushrooms is agriculture activity hence shall be exempt from tax. Assessee British Agro Products (India) Pvt. Ltd. filed its return of income for the assessment year 2017-18 declaring a total income of Rs….

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