Cyber Media India Ltd Faces ₹97.16 Lakh Tax Demand

Cyber Media India Ltd has received an assessment order from the State Tax Officer, Commercial Taxes Department, Chennai, demanding a total of ₹97,16,380. This demand includes ₹32,42,291 towards tax for the financial year 2001-02 under the Central Sales Tax (Tamil Nadu) Rules, 1957, and ₹64,74,089 under the Tamil Nadu General Sales Tax Act, 1959. The company disputes the order, stating it is against settled law, and plans to pursue the matter legally, including filing a writ petition. Cyber Media India Ltd asserts that the order has no impact on its operations.