Tag Archives: mushrooms

No Income Tax on mushrooms grown in controlled conditions : ITAT

By | March 26, 2019

The Hon’ble Supreme Court in the case of CIT Vs. Raja Benoy Kumar Sahas Roy (1957) [32 ITR 466] held that, income derived from some measure of cultivation of land with some expenditure of human skill and labour, renders the profit derived from the ‘product’ agriculture income which would be exempt u/s. 2(1A) of the… Read More »