Kaveri Seed Company Limited has informed the Exchange about General Updates regarding an intimation of Disclosure on Receipt of favorable Order from the Income Tax Department dated 08th April, 2026 for the Assessment Year 2023-24.
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Kaveri Seed Company Limited has received a favorable order from the Income Tax Appellate Authority dated 08th April 2026. The authority ruled in favor of the company regarding an Income Tax demand of Rs. 69,58,75,410 (approximately Rs. 69.59 crore) raised for Assessment Year 2023-24. The demand was originally raised due to disallowance of exemption claimed on Agricultural Income. The Hon'ble Appellate Authority has now allowed the company's claim by treating the income as agricultural income, thereby setting aside the entire demand. This resolves the tax dispute that began when the company received the demand notice on 27th March 2025, after which it pursued legal remedies.
This is a positive development for shareholders as the company successfully avoided a potential tax liability of Rs. 69.59 crore with no adverse financial impact. The favorable ruling removes uncertainty and strengthens the company's financial position.