Kaveri Seed Co. faces ITAT hearing on ₹69.5 Cr tax demand

Kaveri Seed Company Ltd has received a Notice of Hearing from the Income Tax Appellate Tribunal (ITAT), Hyderabad, concerning an appeal filed by the Income Tax Department. The appeal challenges an earlier order that deleted a tax demand of ₹69,58,75,410 for Assessment Year 2023-24. The demand was primarily raised due to the disallowance of exemption claimed on agricultural income. The Commissioner of Income Tax (Appeals) had previously ruled in favor of the company, allowing the agricultural income claim. The hearing is scheduled for November 2, 2026. The company is evaluating the notice and will take necessary steps to defend its position, expecting no material adverse impact.