Income tax on Dev Group: In the last phase of raids conducted by the Income Tax Department officials at 15 locations of Dev Group in Jamnagar since last Friday, Dev Group recovered Rs 1,00,000 crore. He has confessed to a unaccounted transaction of Rs 150 crore. So far Rs. Cash worth Rs 3.5 crore has been recovered. Apart from this, Rs. 3 kg of gold worth Rs 2.45 crore has also been seized. Rupee. 50 lakh rupees in cash and Rs. Jewelry worth Rs 50 lakh was recovered in a few hours, which cost Rs 1 crore. Income tax officials have sealed about 16 lockers of them. The company has given Rs. The details of investment up to Rs 150 crore have also been revealed.
Rupee. Gold more than Rs 2.45 crore also seized: 16 locker sealed
Dev Group companies Dev Salt Private Limited, Maitreyi Developers, D.K. Enterprise, Arihant Artemourse and Contractors, Vimal Kirti Kamdar, Vivek Somani, Rupal Kiran Vyas have been covered with homes and offices. The raids are still going on till the news is written. The raid campaign has been completed at some places. The raid officials have found documentary evidence that the company has stolen income tax by showing false expenses of about 25 to 30 crores in its accounts.
The Dev Group leases the ground for 30 years or more at a minor price. But in the investigation of the Income Tax officials, it has been found that they are earning a hefty amount by selling the land taken on lease for two to four years for millions of rupees.
It has also come to the notice of the officers who raided the Income Tax Department that companies are selling crores of rupees without bills to avoid taxes. It is also discovered that the company made liquid bromine from the solution and sold it to industrial users without bills. It has also been discovered that cash receipts and cash expenditure have been made on a large scale.
In Ahmedabad, a raid has also been conducted on the Unit of Dev Group in North Pakra Villa near Vaishno Devi near Vaishno Devi and Dev House behind the Rajpath Club. The unit of Avala Dev Group has also been raided near Arohi Club in Ghuma area of Ahmedabad. It has also been found that the promoters of Dev Group, which are being done without bills, are investing money in hospitality and other businesses.
It has also been found that the companies of Dev Group have done large amounts of transactions without cash and bills. This cash income was being turned towards real estate business. It seems that the raid campaign will end today.
