Pyramid Saimira’s tax troubles

The reported non-payment of the self assessment tax by the production house major, Pyramid Saimira, which also owns a chain of theatres, had the Income Tax Department attaching the Rs. 240 crores bank account. However, a spokesperson of Pyramid Saimira said that there was no tax liability whatsoever, and it would challenge the decision of the IT Department. A case in this regard is expected to be filed at the Madras High Court on Monday. According to Mr P.S. Saminathan, the CMD of Pyramid Saimira,

“As far as PSTL (Pyramid Saimira Theatres Limited) is concerned, as of now we have no tax dues. We have filed a revised return wherein we have claimed a refund. There is no tax demand on us based on completed assessment.”