Corporate News | Direct tax collections increase 16%

Corporate News | Direct tax collections increase 16%
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First Published: Thu, Aug 05 2010. 09 18 PM IST
Updated: Thu, Aug 05 2010. 09 18 PM IST
New Delhi: Net direct tax collections during first four months of the current fiscal (up to July 2010) grew by nearly16% rising from from Rs73,990 crore to Rs85,647 crore, during the same period in the last financial year. While growth in corporate income tax was around 21% in personal income tax it was 8.51% (including Securities Transaction Tax or STT, residual Fringe Benefit Tax or FBT and Banking Cash Transaction Tax or BCTT)
Growth in personal income tax was highest in Patna region (Bihar and Jharkhand) at around 93% followed by Lucknow region (UP-East) at 90%. Growth in corporate income tax was highest in Bhopal region (MP-Chhattisgarh) at 219%.
Securities Transaction Tax, however, continued to grow negatively at 26% during the period (Rs.1,652 crore in FY 2010-11 as against Rs.2,240 crore in FY 2009-10).
Sangeeta Singh
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HUL takes ITC to court over cream
Mumbai: Consumer goods company Hindustan Unilever Ltd has filed a case against Kolkata-based ITC Ltd over the packaging of its fairness-enhancing cream.
HUL, which makes Fair and Lovely fairness enhancing cream, in late July filed a copyright and trademark infringement case in the Kochi Court against ITC’s personal care cream Vivel Active Fair which was launched in mid June this year. Fairness creams is a Rs1,700-crore market growing at a rate of 13% to 15% annually.
According to the complaint, ITC’s product is similar in packaging to HUL’s, and can be mistaken by consumers for Fair and Lovely.
An HUL spokesperson confirmed that the company has filed a court case, but declined to comment as the matter is in court. .
ITC also declined comment. ”Certain incorrect claims have been made which we are contesting. Since the matter is subjudice, no further comments can be made,” an ITC spokesperson said. .
The first step by the court could be to issue injunction relief to HUL as part of which ITC would be asked to refrain from using the label/ packaging , said Anuradha Salhotra, managing partner at Delhi-based law firm Lall, Lahiri and Salhotra, adding that hearings on whether the labels are similar and cause deception can take up to three months.
Sapna Agarwal
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First Published: Thu, Aug 05 2010. 09 18 PM IST