I-T Dept seizes Rs 9.83cr cash 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.

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