The Appellate Division of the Supreme Court on Sunday stayed a High Court directive for the immediate collection of Tk 666 crore in outstanding taxes from Grameen Kalyan.

Chamber Judge Justice Md Rezaul Haque passed the order after hearing two leave-to-appeal petitions filed by Grameen Kalyan challenging the High Court verdict.

The stay will remain in force until December 13, when a full bench of the Appellate Division is scheduled to hear the petitions.

Senior lawyer Abdullah Al Mamun, representing Grameen Kalyan, said the stay means the National Board of Revenue (NBR) cannot collect the disputed amount until the matter is heard by the Appellate Division.

On September 10, the High Court upheld the NBR’s demand for Tk 666 crore in income tax for five assessment years between 2012 and 2017, dismissing two writ petitions filed by Grameen Kalyan.

The High Court bench of Justice Md Mozibur Rahman Miah and Justice Rezaul Karim delivered the verdict. The full text of the judgment was released on October 12.

Abdullah Al Mamun said the tax dispute arose from advance tax deductions made by Grameenphone on behalf of the government in connection with investments involving Grameen Kalyan and Grameen Bank.

He said an inspection in 2017 treated the amount as excess income, leading to the tax demand of Tk 666 crore against Grameen Kalyan.

The lawyer also questioned why the tax demand was directed solely at Grameen Kalyan despite the business arrangement involving other parties.

Deputy Attorney General Mohammad Mehedi Hasan represented the state during the hearing.