https://www.taxtmi.com/highlights?id=88867 HC held that income from controlled environment cultivation of white 'Button Mushrooms' does not qualify as "Agricultural Income" under Section 2(1A) of the Income Tax Act. The court determined that the income fails to meet the statutory criteria for agricultural income, specifically noting that the mushroom production in a factory setting does not satisfy the requisite conditions of land usage, agricultural purpose, or processing by a farmer. Consequently, the appellate court ruled in favor of the Income Tax Department, rejecting the assessee's claim for agricultural income tax exemption under Section 10(1) of the Act. en-us Thu, 29 May 2025 08:41:13 +0530 Thu, 29 May 2025 08:41:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=88867 HC held that income from controlled environment cultivation of white 'Button Mushrooms' does not qualify as "Agricultural Income" under Section 2(1A) of the Income Tax Act. The court determined that the income fails to meet the statutory criteria for agricultural income, specifically noting that the mushroom production in a factory setting does not satisfy the requisite conditions of land usage, agricultural purpose, or processing by a farmer. Consequently, the appellate court ruled in favor of the Income Tax Department, rejecting the assessee's claim for agricultural income tax exemption under Section 10(1) of the Act. Highlights Income Tax Thu, 29 May 2025 08:41:13 +0530 https://www.taxtmi.com/highlights?id=88867