Andhra Pradesh - Others   

Hyderabad financier held for I-T evasion

Staff Reporter

Coimbatore: Income Tax Department officials have taken into custody a Hyderabad based financier at Coimbatore on charges of income tax evasion to a tune of over Rs. 5 crores. O.P. Sachan, Chief Commissioner of Income Tax, Coimbatore region, said that the financier was wanted by Income Tax authorities in Hyderabad on charges of having evaded income tax . He was found to be residing at Coimbatore and was taken into custody by Tax Recovery Officers, Coimbatore, on Thursday. A police team from Andhra Pradesh would bring the financier to Hyderabad on a transit warrant where legal action would be initiated against him before lodging him in a prison. The officials refused to divulge the name of the financier.

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