IT dept searches premises of onion traders in Lasalgaon​

Teams of Income Tax department today carried out searches at 25 premises of seven major onion traders in Nashik's Lasalgaon,  one of the biggest onion markets in the country.

According to IT department officials, the premises of onion traders are being surveyed based on the information that some of the onion traders are involved in hoarding of onions to raise​ the prices of onions artificially. The searches are being carried​ by​ teams of 120 IT officials.

A senior IT official from Pune region said, "There was a tip​-​off that some of the onion traders from Lasalgaon in Nashik ​are ​trying to creating artificial scarcity of onions in the market by way of hoarding. Once the artificial scarcity is created, commodity prices will rise in future. Based on that tip​-​off, the searches are being carried out."

According to officials, the searches and surveys will continue for next two to three days. "According to the information, some of the these traders are purchasing onion from farmers as the prices of onion are low and they are falling down further. Therefore, the searches are being carried out at 25 premises of seven onion traders including houses, offices and warehouses of these traders in Nashik district," the official added.