Tax & Penalty8 Sept 2026, 05:20 pm
Cyber Media India Ltd Faces ₹54 Lakh Tax Demand
AI Summary
Cyber Media India Ltd has received an order from the State Tax Officer, Commercial Taxes Department, Chennai, demanding a total of Rs. 54,07,051. This demand comprises Rs. 7,42,580 for tax for FY 2001-02 and Rs. 46,64,471 under various sections of the Tamil Nadu General Sales Tax Act, 1959. The company disputes the demand, citing settled law, and plans to pursue the matter legally. There is no anticipated impact on the company's operations.
Key Highlights
- Tax demand of ₹54,07,051 issued by Chennai Commercial Taxes Dept.
- Demand relates to financial year 2001-02.
- Company disputes the demand and plans legal action.
- No impact on company operations is expected.
Price Impact
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