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Kaveri Seed disclosed an ITAT hearing notice for a ₹56.21 Crore income-tax appeal filed by the IT Department. The company expects no material adverse impact.
Kaveri Seed Company received an ITAT hearing notice regarding an ongoing tax appeal. The case involves a previously disputed tax demand of ₹69.59 Crore.
Kaveri Seed Company received a hearing notice regarding a ₹73.25 Crore income tax demand. The company previously won at the appellate level and expects no material impact.
Kaveri Seed Company Ltd received a favorable appellate order setting aside a ₹69.59 Crore income tax demand for Assessment Year 2023-24. The authority allowed the company's claim treating the disputed amount as exempt agricultural income. This resolution removes the previously disclosed contingent liability with no adverse financial impact.
Kaveri Seed Company Ltd won a major tax appeal as the CIT (Appeals) set aside a ₹56.21 Crore income tax demand for AY 2022-23. The authority accepted the company's claim treating the disputed amount as tax-exempt agricultural income. This ruling removes a significant potential liability and has no adverse financial impact.