Noida, Feb 24 : The raids conducted by the Income Tax Department at more than 70 locations of Uflex company continued for the fourth day on Friday. Bogus transactions worth Rs 500 crore have been detected. Two of the company's premises located in Noida (Uttar Pradesh) and Delhi's Shahdara have been sealed. Raids have been completed at 15 places outside Noida and search has been extended at 10 locations in NCR. Search is underway at 66 locations, including NCR. Shares of Rs 209 crore have been shown as Rs 200 crore in capital gain. The profit arising from sale of a capital asset is called capital gain. Capital assets are investments like a house, land, stocks, mutual funds, jewellery, trademarks, etc. The profit is treated as 'income,' so tax is payable on that particular amount in the same year in which one sells it. Significantly, the number of shell companies involved in bogus transactions has increased from 10 to 40 and the details of the directors of these companies are being ascertained. Teams of 600 and 150 officials have been conducting the raids in NCR and outside NCR respectively. The officials found 20 bank accounts belonging to people from the economically weaker section of the society with transactions ranging from Rs 5-50 crore. Fifteen lockers have also been found, which will be opened soon. Documents of suspicious transactions of about Rs 100 crore were found in Jammu, and 150 such suspicious documents were found in Uflex group's locations in Noida Sector 4 and Sector 57 during the raids. According to sources, the total valuation (market value) of the company that deals with packaging, is Rs 3,509 crore. /IANS