IT raid at Coimbatore
Concealed income to the tune of Rs 10 crore was detected at income tax (IT) raids at various places in Tiruchy and Coimbatore districts, an official release said here. The release said the personnel swooped on the business premises and residences of four groups of builders in the cities yesterday and detected "concealed income" of Rs 10 crore in property sale deals.Undisclosed cash and jewellery worth Rs 34 lakh was also seized and Rs 80 lakh fixed deposits in banks were being verified, the release added. About 120 personnel were engaged in the raids.