Date: 6th August 2026
Other Operational / Legal / Strategic Disclosures
Kaveri Seed Company Limited has received a Notice of Hearing from the Income Tax Appellate Tribunal (ITAT), Hyderabad Benches, dated 6th August 2026. The notice pertains to Appeal No. ITA2423/Hyd/2026 filed by the Income Tax Department against an order passed by the Commissioner of Income Tax (Appeals) for the Assessment Year 2023-24. The hearing is scheduled for 2nd November 2026.
The appeal concerns a tax demand of ₹69,58,75,410 originally raised by the Income Tax Authorities for AY 2023-24. The demand was primarily based on the disallowance of an exemption claimed by the company on agricultural income. However, the Commissioner of Income Tax (Appeals), in an order dated 8th April 2026, allowed the company's claim, held the income to be agricultural, and consequently deleted the entire tax demand.
This disclosure is a continuation of previous intimations made by the company dated 27th March 2025 (receipt of Demand Notice) and 8th April 2026 (receipt of the Appellate Order). The company states it is evaluating the notice and will take all necessary steps to defend its position before the ITAT. The company believes it has a strong case on merits and does not expect any material adverse impact at this stage.
Annexure Details
- Name of the listed Company: Kaveri Seed Company Limited
- Name of the authority: Income Tax Appellate Tribunal, Hyderabad Benches
- Nature of action: Receipt of Notice of Hearing in Appeal No. ITA2423/Hyd/2026 filed by the Income Tax Department against the order of the Commissioner of Income Tax (Appeals) for AY 2023-24.
- Date of receipt of communication: 6th August 2026
- Details of the alleged violation: The appeal pertains to a tax demand raised by the Income Tax Department primarily on account of disallowance of exemption claimed on agricultural income for AY 2023-24.
- Quantifiable impact: The tax demand involved is ₹69,58,75,410.