Kaveri Seed Company's Appeal Against Income Tax Demand Decided in Favor, Saving Rs. 56 Crores

Kaveri Seed Company Ltd. has received an order from the Income Tax Department, stating that their appeal against the income tax demand for the Assessment Year 2022-23 has been decided in their favor. The demand of Rs. 56,21,17,500/- raised earlier has been set aside by the Appellate Authority, treating the income as agricultural income. This decision comes after the Company received a demand notice in April 2024 and decided to pursue appropriate legal remedies.