The Beady Eye musician claimed that Noel wasn't telling the truth when he said that the band had pulled out of their planned performance at V Festival in 2009 because his brother Liam "had a hangover".
Noel also previously suggested that a key reason for Oasis's split was that he had tried to charge brother Liam to advertise his clothing company Pretty Green in the band's tour programme, which Bell also denied.
Asked by Japan Times about what Gallagher had said on why Oasis split, Bell responded: "B*llocks! He lied about a lot of things. The argument about Pretty Green was lies, what he said about V Festival and the fake laryngitis was lies - I don't know, maybe he's convinced that's the truth. I don't know what goes on in his head. I know him, so I'm not disappointed.
"That's just Noel being Noel. All that s**t. There were three of us in that room, and I'm telling you it was nothing to do with Pretty Green. I'm not going to add more fuel to the fire.
"That's what he's like. I know how he spins the press. He's used the press for years. Interviews and press are secondary for us, that's his life."
Bell added that people could make their own minds up, but said that the fact most of Oasis remained together as Beady Eye should speak volumes.
"We drove back to the hotel, had a few beers, sat together and said there's nothing to keep us from playing together. We agreed it wouldn't be the end just because Noel left," he recalled.
"I've ended up in a band with Liam, Gem, Chris, with the same management, road crew. But at the same time, I wish him all the best. I want him to be happy."
Beady Eye play Reading And Leeds Festivals next weekend.
> Liam Gallagher: 'Noel is breaking my heart with Oasis lies'
Watch the music video for 'The Beat Goes On' by Beady Eye below: