Kaveri Seed Company Wins Income Tax Appeal, Rs. 73.25 Crore Demand Set Aside
Kaveri Seed Company Limited won its appeal against an Income Tax demand of ₹73.25 crore for AY 2020-21. The Income Tax Appellate Authority allowed the company's claim on agricultural income, setting aside the demand. The order was dated March 30, 2026.
The successful appeal against a demand of ₹73.25 crore removes a potential financial burden, positively impacting the company's financial standing, though it doesn't represent new revenue or a strategic shift.
The company has won its appeal against a significant Income Tax demand, resulting in the demand being set aside, which is a positive financial outcome.
Kaveri Seed Company Limited has received a favorable order from the Income Tax Appellate Authority concerning the Assessment Year 2020-21. The appeal was filed against an Income Tax demand of ₹73,25,39,490, which was primarily raised due to the disallowance of exemption claimed on agricultural income.
The Hon'ble Appellate Authority has now ruled in favor of the company, allowing its claim and treating the income as agricultural income. Consequently, the previously raised demand of ₹73,25,39,490 has been set aside, indicating no adverse financial impact on the company.
This development is a continuation of the company's earlier disclosure on October 1, 2022, when it had informed about the demand notice and its intention to pursue legal remedies. The order from the Income Tax Appellate Authority is dated March 30, 2026.
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