Kaveri Seed Company Ltd Appeal Against Income Tax Demand Upheld by Appellate Authority
Kaveri Seed Company Ltd announced on April 8, 2026, that its appeal against the Income Tax demand for the Assessment Year 2023-24 has been decided in favor of the Company. The decision was communicated via an order dated April 8, 2026.The Income Tax Authorities had initially raised a demand of Rs.69,58,75,410/ primarily due to the disallowance of an exemption claimed on Agricultural Income. However, the Appellate Authority has allowed the Company's claim, treating the income in question as agricultural income, thereby setting aside the aforementioned demand.
This development follows an earlier disclosure from the Company on March 27, 2025, which informed stakeholders about the receipt of the demand notice and the intention to pursue appropriate legal remedies.
The specifics of the appeal and the resulting order are detailed in the following table, summarizing the action taken by the tax authorities.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the listed | Kaveri Seed Limited |
| 2 | Name of the authority | Office of the Commissioner of Income Tax, CIT A H -11 |
| 3 | Nature and details of the action(s) taken, initiated or S | Order passed allowing the Company's appeal against the Income Tax demand for the Assessment Year 2023-24 |
| 4 | Date of receipt of direction or order, including any ad- interim or interim orders, or any other communication from the a | Order dated 08th April 2026 |
| 5 | Details of the violation(s) / contravention(s) committed or alleged to be committed. | Income Tax Authorities had previously disallowed the exemption claimed by the Company, mainly on Agricultural Income and raised a demand u/s.1a3(3) of the I.T Act, 1961, dated 27.03.2025. |
| 6 | Impact on financial, operation or other activities of the listed entity, quantifiable in monetary terms to the extent | Rs.69,58,75,410 / - raised earlier stands set aside pursuant to the appellate order. There is no adverse financial impact on the Company. The demand of |
The Company stated that the demand of Rs.69,58,75,410 / - stands set aside due to the appellate order, confirming no adverse financial impact on the Company.
KSCL Stock Price Movement
Shares of Kaveri Seed Company Limited are edging higher to ₹897.90 as of 3:01 PM today, gaining 3.61% in live trading. The stock is demonstrating considerable interest, climbing on a volume of 493,259 shares.Source:
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