Kaveri Seed Co. Receives Income Tax Appellate Tribunal Hearing Notice for ₹73.25 Cr Demand
Kaveri Seed Company Limited received a hearing notice from the Income Tax Appellate Tribunal for an appeal filed by the Income Tax Department. The appeal concerns a ₹73.25 crore demand related to agricultural income exemption for AY 2020-21. The hearing is scheduled for December 7, 2026.
The matter involves a significant amount of ₹73.25 crore, which could potentially impact the company's financials if the appeal against the deletion of the demand is unsuccessful. However, the company is actively defending its position and believes it has a strong case, mitigating immediate high impact.
The company has received a notice for a hearing related to an ongoing tax matter. While the previous appellate order favored the company, the Income Tax Department's appeal introduces uncertainty. The company is preparing to defend its case, and the outcome is not yet determined.
Kaveri Seed Company Limited has received a Notice of Hearing from the Income Tax Appellate Tribunal (ITAT), Hyderabad Benches, concerning an appeal filed by the Income Tax Department. This appeal is against an order passed by the Commissioner of Income Tax (Appeals) for the Assessment Year 2020-21.
The Income Tax Department has appealed the deletion of a demand of ₹73,25,39,490/-. This demand was initially raised primarily due to the disallowance of exemption claimed by the company on agricultural income. Subsequently, the Commissioner of Income Tax (Appeals), in an order dated March 30, 2026, had allowed the company's claim and deleted the demand, recognizing the income as agricultural.
The matter is scheduled for a hearing on December 7, 2026. Kaveri Seed Company Limited is currently evaluating the notice and intends to take all necessary steps to defend its position before the Tribunal. This disclosure follows previous intimations regarding the receipt of the demand notice and the appellate order.
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