https://www.taxtmi.com/caselaws?id=471740 Mushroom cultivation, including production and sale under controlled conditions, qualified as exempt agricultural income. A cold-chain facility established with new plant and machinery as an independent operation qualified for weighted deduction as a specified business because it was not formed by splitting up or reconstructing an existing business. Unaccrued machinery-sale consideration could not be included in minimum alternate tax book profit where the sale did not materialise and restated financial statements reflected real income. Delayed employees' provident fund and ESI contributions were not deductible. Sales-promotion and miscellaneous expense disallowances could not rest on unverified allegations or ad hoc estimates without identified defects or rejection of audited books. en-us Wed, 09 Apr 2025 00:00:00 +0530 Wed, 16 Sep 2026 13:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471740 Mushroom cultivation, including production and sale under controlled conditions, qualified as exempt agricultural income. A cold-chain facility established with new plant and machinery as an independent operation qualified for weighted deduction as a specified business because it was not formed by splitting up or reconstructing an existing business. Unaccrued machinery-sale consideration could not be included in minimum alternate tax book profit where the sale did not materialise and restated financial statements reflected real income. Delayed employees' provident fund and ESI contributions were not deductible. Sales-promotion and miscellaneous expense disallowances could not rest on unverified allegations or ad hoc estimates without identified defects or rejection of audited books. Case-Laws Income Tax Wed, 09 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471740