Key Quantitative Figures

The tax demand involved in the matter is ₹73,25,39,490 (Seventy-Three Crore Twenty-Five Lakh Thirty-Nine Thousand Four Hundred Ninety Rupees) for Assessment Year 2020-21.

Dates of Action

  • October 1, 2022: Company previously disclosed receipt of the original tax demand notice.
  • March 31, 2026: Company previously disclosed receipt of the appellate order from the Commissioner of Income Tax (Appeals).
  • June 2, 2026: Date of receipt of the Notice of Hearing from ITAT.
  • December 7, 2026: Scheduled hearing date at ITAT.

Parties Involved

  • Appellant: Income Tax Department
  • Respondent: Kaveri Seed Company Limited
  • Judicial Authority: Income Tax Appellate Tribunal (ITAT), Hyderabad Benches
  • Previous Authority: Commissioner of Income Tax (Appeals)

Details of the Matter

The appeal filed by the Income Tax Department challenges the order dated March 30, 2026, passed by the Commissioner of Income Tax (Appeals). The CIT(A) had allowed the company's claim and held that the income in question was agricultural income, thereby deleting the tax demand of ₹73.25 crore. The original demand was primarily raised on account of disallowance of exemption claimed by the company on agricultural income.

Company's Stance and Evaluation

The company is evaluating the notice and states it "shall take all necessary steps to defend the matter before the Hon'ble Tribunal." The disclosure notes that "The Company believes it has a strong case on merits and does not expect any material adverse impact at this stage."

Financial Impact

While the tax demand amount is quantified at ₹73.25 crore, the company does not expect material adverse impact based on their assessment of case merits. No provision for this amount has been indicated in the disclosure.

Continuity of Disclosure

This filing is in continuation of the company's earlier intimations dated October 1, 2022 (receipt of demand notice) and March 31, 2026 (receipt of appellate order).

#Tags: #KaveriSeed #IncomeTaxAppeal #ITAT #SEBIDisclosure #RegulatoryCompliance #TaxDispute