Kaveri Seed Wins Income Tax Appeal, ₹69.59 Crore Demand Set Aside
Kaveri Seed Company Limited won its appeal against an Income Tax demand of ₹69.59 crore for AY 2023-24. The Appellate Authority ruled in favor of the company, recognizing the income as agricultural. This decision nullifies the earlier demand, with no adverse financial impact.
The resolution of a substantial tax demand is positive for the company's financial standing, though it does not represent new business growth or a major strategic shift.
The company has won a significant appeal against a large Income Tax demand, which has been set aside, resulting in no adverse financial impact.
Kaveri Seed Company Limited has received a favorable order from the Income Tax Department, with its appeal against a demand for the Assessment Year 2023-24 being decided in the company's favor. The order, dated 8th April 2026, sets aside a previously raised demand of ₹69,58,75,410.
This demand was primarily based on the disallowance of exemption claimed on agricultural income. The Hon'ble Appellate Authority has now recognized the income as agricultural income, thereby nullifying the demand. This follows the company's earlier disclosure on 27th March 2025, where it informed about the demand notice and its intent to pursue legal remedies.
The company has confirmed that there is no adverse financial impact as a result of this order, as the demand of ₹69.59 crore has been set aside.
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