Dev Group Admits to ₹150 Crore Tax Evasion in IT Raids; ₹3.5 Crore Cash and 2.5 Kg Gold Seized

Ahmedabad: The Income Tax (IT) Department has uncovered a massive tax evasion case involving Dev Group, a business entity engaged in salt production, hospitality, and other industries. During raids conducted at over 20 locations across Ahmedabad, Jamnagar, Morbi, and Maliya, officials discovered unaccounted transactions worth crores, leading to a confession of ₹150 crore tax evasion.

Seizures and Investigations

The IT department seized ₹3.5 crore in cash and 2.5 kg of gold during the search operations. Additionally, 16 bank lockers were sealed, with three of them already being operated. Officials also found land investment records amounting to ₹150 crore.

To further the investigation, forensic experts were called in to recover deleted digital data from computers, laptops, mobile phones, hard drives, and pen drives belonging to Dev Group. Several premises of the group were searched, and while some operations have concluded, raids are still underway in Ahmedabad and other locations.

Unaccounted Transactions and Possible Large-Scale Tax Fraud

Dev Group was found to be involved in large-scale unaccounted transactions, particularly in the sale of liquid bromine concentrate to industries. Another major revelation was that the company, which leases land for salt production on a 99-year basis, allegedly resold portions of the leased land to third parties for ₹4 to ₹5 lakh per acre annually.

Widespread Raids and Key Individuals Under Scrutiny

The IT department conducted coordinated searches at multiple locations, including Dev House near Rajpath Club in Ahmedabad, Arohi Club, North Park Villas in Shantigram, and other business premises in Jamnagar, Morbi, and Maliya. Prominent individuals linked to Dev Group, such as Devendra Zala, Vimal Kirti Kamdar, Vivek Somani, and Rupal Kiran Vyas, are under investigation.

Sources estimate the group’s total turnover to be around ₹200 crore. Large volumes of suspicious documents have been seized, indicating possible financial misreporting in real estate, hospitality, and other sectors. Based on intelligence inputs, the IT department suspects further undisclosed wealth transfers and is expected to continue its probe in the coming days.