Indore: Income tax department started tightening noose around business men who deposited huge cash in banks accounts post demonetisation and failed respond to taxmen’s queries on it. Sleuths of Investigation wing of I-T on Thursday conducted survey against a city jeweller.

After gathering specific information from banks about people who deposited huge cash in accounts post demonetisation and could not give satisfactory reply to I-T queries, taxmen started search and survey operation.

Investigation wing officials on Thursday afternoon started survey at Vivek Jewellers, located in Sarvahara Nagar near Nanda Nagar and may finish by Friday. S

Sources said that proprietor of the firm Nikhil Soni allegedly deposited Rs 1.5 crore in November. The income tax department had sought details about bulk deposits in banks but Soni’s reply did not satisfy the taxmen and launched the survey exercise on Thursday.

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