Technically yes, but as ATL1 pointed out sometimes it's hard to determine.
With that said, Shouldn't the opposite should be true? Any "pitch" (underhand, overhand, side armed, shot putted, etc.) that is not a forward lateral should be considered rushing yardage. I wonder how many of those (again not many happen that way) end up being counted as passing yards instead of rushing yards.
I suspect this whole discussion applies even more to the wide screen passes to the WR or Slot Back. There are many more of those "marginal pass or lateral" plays on wide screens than on TO3 pitches.