Dr. Yunus to pay taka 119 cr income Tax

Nobel Laureate Dr. Muhammad Yunus

On Thursday, a significant ruling was handed down by the High Court, concerning the income tax references filed by Grameen Kalyan, a nonprofit social business company founded by Nobel Laureate Dr. Muhammad Yunus. The court, in its decision, rejected seven income tax references and upheld the National Board of Revenue's (NBR) claim of Tk 119 crore in income tax from Grameen Kalyan.

The High Court's decision was delivered by a division bench comprising Justice Muhammad Khurshid Alam Sarkar and Justice Sardar Md Rashed Jahangir. The verdict confirmed the NBR's stance on Grameen Kalyan's income tax liability, leading to the dismissal of the seven income tax references filed by the nonprofit organization.

As a consequence of the court's judgment, Grameen Kalyan is now obligated to pay a total of Tk 119 crore as income tax for seven tax years. This decision marks a significant development in the ongoing legal proceedings between Grameen Kalyan and the National Board of Revenue.

Advocates Sardar Jinnat Ali, Md Umbar Ali, and Delwar Hossain represented Grameen Kalyan during the court proceedings. On the other side, Attorney General AM Amin Uddin argued on behalf of the state, presenting the NBR's case for the claimed income tax.

Assistant Attorney General Tahmina Poly, in a statement to the media, confirmed the court's decision and highlighted that Grameen Kalyan is now required to fulfill its income tax obligation as determined by the NBR.

The High Court's verdict on the income tax references filed by Grameen Kalyan not only emphasizes the legal resolution of financial matters but also raises discussions on the tax obligations of nonprofit organizations. As this decision carries financial implications for Grameen Kalyan, it will be interesting to observe any further legal actions or responses from the nonprofit and its founder, Dr. Muhammad Yunus. The case underscores the importance of compliance with tax regulations and the role of the judiciary in settling such disputes.