Income Tax notices to Noida Authority bank officials

Tightening the noose around those who misused the Centre's demonetisation move, the Income Tax department has sent notices to bank officials under Noida Authority.

The notices were sent recently seeking information about the account details of 25 officials of Noida Authority, Income Tax department officials said today.

The step was taken to detect black money, especially through fake companies. We are also looking into accounts of jewellers as there are reports that gold bricks were exchanged for old currency, they said.

In a surprise move, the Centre had on November 8 demonetised high-value Rs 500 and Rs 1,000 notes.