Grameen Kalyan loses HC petitions over Tk 666 crore tax reassessment

The High Court today rejected two petitions filed by Grameen Kalyan challenging National Board of Revenue (NBR) orders reassessing around Tk 666 crore in income tax for different tax years.

Grameen Kalyan is a non-profit and charitable organisation founded by former chief adviser to the interim government and Nobel laureate Professor Muhammad Yunus.

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The bench of Justice Md Mozibur Rahman Miah and Justice Rezaul Karim delivered the verdict after hearing the petitions.

Deputy Attorney General Abdus Samad Azad, who argued for the state, said the NBR will issue a notice to Grameen Kalyan seeking Tk 666 crore in income tax for the 2012-13 to 2016-17 tax years after receiving a certified copy of the verdict.

Grameen Kalyan's lawyer, Barrister Abdullah Al Mamun, said his client will appeal against the HC verdict before the Appellate Division of the Supreme Court.

If the Appellate Division stays the HC verdict, Grameen Kalyan will not have to pay the amount claimed by the NBR, he added.