Rs 9.83 cash seized by IT dept in Coimbatore

The Income Tax (IT) department on Tuesday seized Rs 9.83 crore in cash from assessee G Ramesh of Universal Trading Solutions in Coimbatore, sources said. According to sources, Ramesh was collecting deposits from public promising high returns and also trading in the commodities market.

According to I-T department sources, no income tax returns have been filed so far. Further details are awaited.