Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
Income derived from cultivation and sale of white button mushrooms was characterized as agricultural income exempt u/s 10(1) of the Income Tax Act, following the precedent set by the Inventaa Industries (P.) Ltd. case [2018 (8) TMI 69 - ITAT HYDERABAD] with identical facts. The Appellate Tribunal allowed the assessee's claim, treating the cultivation and sale of white button mushrooms as an agricultural activity, resulting in the income being exempt from taxation u/s 10(1).
Income derived from cultivation and sale of white button mushrooms was characterized as agricultural income exempt u/s 10(1) of the Income Tax Act, following the precedent set by the Inventaa Industries (P.) Ltd. case [2018 (8) TMI 69 - ITAT HYDERABAD] with identical facts. The Appellate Tribunal allowed the assessee's claim, treating the cultivation and sale of white button mushrooms as an agricultural activity, resulting in the income being exempt from taxation u/s 10(1).
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