In Mumbai, about 200 I-T officers and staff of the Investigation Wing of the Mumbai Income-Tax Department have got admissions of concealed income amounting to Rs 4.5 crore. The raids, which began on Tuesday evening, covered 46 premises, of which 37 are located in Mumbai.

The sleuths also found evidence of unaccounted cash advances to cultivators, apart from unexplained expenses, particularly in real estate deals, officials reveal. Receipts of cash premium on sale of land and unaccounted stock and investments in real estate were also seized.

The agents in Mumbai allegedly asked up-country agents to send them inflated bills and after the drafts were paid, the Mumbai agents received the difference in cash. Also, advances made by them to cultivators ran into crores of rupees,sources reveal.

I-T officials refuse to reveal the names of the 12 agents who were raided though market sources claim Amritlal Ashok Kumar and Bhansali were among them. The raids continued till Wednesday evening though more statements are likely.

In Nashik, meanwhile, I-T sleuths continued their raids on major onion traders and exporters for the second day today at Lasalgaon, Pimpalgaon-Baswant, Manmad and Yeola. Reliable sources say at least six major traders have been targeted by a special squad of 225 I-T personnel. The searches will continue tomorrow.

Unconfirmed reports say the major onion traders raided include Ratan Raka, Jain and Bhikaji Nana in Lasalgaon; Lalwani, Raka in Manmad, and Bafna in Pimpalgaon-Baswant.

The raids have created panic among onion traders, with many of them staying away from the Lasalgaon marketyard. On Tuesday too, traders failed to turn up for auctions at the marketyard for almost half the day, with the auctions beginning only at around 4.00 pm. The Lasalgaon marketwas shut today on account of Amavasya and will reopen tomorrow.

Meanwhile, Lasalgaon APMC Chairperson Kalyanrao Patil says prices have plumetted at the marketyard owing to panic among the traders and it will be at least a week before things return to normal.