The 10th edition of Kanga & Palkhivala’s Law & Practice of Income Tax was launched, in the presence of legal luminaries
The 10th edition of the classic Kanga & Palkhivala’s Law and Practice of Income Tax, revised and edited by Supreme Court advocate Arvind Datar was released at the Royal Bombay Yacht Club in the presence of legal and accounting luminaries. Among those present were the former chief justice of the Supreme Court, Justice Sam Bharucha. Also present on the dias was Behram A Palkhivala, Nani Palkhivala’s brother, and Soli Dastur, noted income-tax lawyer.
Among the audience were noted tax practioners, Dinesh Vyas, Bansi Mehta and YH Malegam. Releasing the book, Mr Dastur said,
“He (Mr Datar) broaches all the issues which are very relevant today, and will continue to be relevant in the future as well. This gives the reader all the cases and the subjects in one place, so that there is no need to refer to another part of the two-volume book. An important feature of this book is to give you food for thought.”
During the December quarter, Colgate Palmolive India’s net profit remained muted despite higher sales as increasing expenses and advertising costs affected margins
Colgate Palmolive (India) Ltd reported a marginal increase in its third quarter net profit despite recording higher sales. The company said its expenses and advertisement costs increased during the December quarter largely due to high inflation and intensive competition.
For the quarter to end-December, the FMCG company said its net profit increased 2% to Rs112.83 crore from Rs111.05 crore while total sales rose 16% to Rs883.98 crore from Rs762.68 crore, same period last year. However, its volume growth remained robust, helped by the toothpaste segment.
During the December quarter, Colgate Palmolive’s expenses increased 17% to Rs752.63 crore from Rs645.16 crore a year ago. Colgate Palmolive spent 22% more on advertising at Rs121.46 crore from Rs99.85 crore a year ago period.
“During the December 2013 quarter, Colgate Palmolive achieved a volume growth of 10% over the same quarter of the previous year led by a strong growth of 11% in toothpaste category. The flagship brands, ‘Colgate Dental Cream’, ‘Active Salt’, ‘Max Fresh’ and ‘Colgate Total’ along with the recently launched ‘Visible White’ have contributed to this growth,” the company said in a release.
Colgate Palmolive’s market share of toothbrush increased to 41.5% as on December 2013 compared with 39.8% as on December 2012.
During December 2013 quarter, Colgate Palmolive has paid interim dividends two times in November 2013, first Interim dividend of Rs9 per share and in December 2013 second interim dividend of Rs9 per share.
Colgate Palmolive closed Wednesday marginally up at Rs1320 on the BSE, while the Sensex also ended the day marginally up at 21,255.
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