Kaveri Seed Company Ltd Wins Appeal Against Income Tax Demand for AY 2022-23
Kaveri Seed Company Ltd announced that its appeal concerning the Income Tax demand for the Assessment Year 2022-23 was decided in favor of the Company. The favorable order was received on April 7, 2026.The Income Tax Authorities had previously raised a demand of Rs. 56,21,17,500 primarily due to the disallowance of an exemption claim made on Agricultural Income. However, the Hon'ble Appellate Authority has allowed the Company's claim, recognizing the income as agricultural income and consequently setting aside the previously raised demand.
This development follows an earlier disclosure made by the Company on April 1, 2024, when it had notified the receipt of the demand notice and its plan to pursue appropriate legal remedies.
The key details regarding this development are presented below.
| Particulars | Details |
|---|---|
| Listed Company | Kaveri Seed Company Limited |
| Authority Name | Office of the Commissioner of Income Tax, A CIT 1 |
| Action Taken | Order passed allowing the Company's appeal against the Income Tax demand for the Assessment Year 2022-23 |
| Date of Order | April 7, 2026 |
| Violation Alleged | Income Tax Authorities had previously disallowed the exemption claimed by the Company, mainly on Agricultural Income and raised a demand u/sla3Q) of the I.T Act, 1961' dated 30.03.2024. |
| Financial Impact | The demand of Rs. 56,21,17,500 raised earlier stands set aside pursuant to the appellate order. There is no adverse financial impact on the Company. |
KSCL Stock Price Movement
Shares of Kaveri Seed Company Limited are edging higher to ₹870.6 as of 11:39 AM today, showing a gain of 0.46% in live trading. The stock is seeing brisk buying interest, evidenced by a total volume of 183,811 shares traded so far.Source:
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