Business & Economy

Software sold off shelf is liable
for sales tax, says court

What is India News Service, Saturday, 6 November 2004, 2000 hrs IST


THE Supreme Court on Friday held that software programmes such as Oracle, Lotus and Unigraphics sold off the shelf are goods for the purpose of levy of sales tax by States.

A five-Judge Constitution Bench headed by Justice N. Santosh Hegde gave this ruling on a special leave petition filed by Tata Consultancy Services (TCS) challenging the Andhra Pradesh High Court judgment upholding the levy of sales tax on software programmes developed by TCS and sold off the shelf.

The Bench said the term `goods' as defined in Article 366 of the Constitution and as defined under the Andhra Pradesh General Sales Tax Act would include all types of movable properties, tangible or intangible.

Panchayats can play major role in power sector, says Prime Minister: Prime Minister Manmohan Singh today called upon the Panchayati institutions to come forward to play a crucial role in electricity reforms by becoming a partner in energy generation and distribution.

European steel giant mulls investment in India market: Corus feels that the demand for flat steel products in the country will increase and this will necessitate increased production capacities.

Panel for integrated food law: An integrated food law for the food processing sector has been recommended after the conclusion of a day-long conference of state ministers of food processing industries.

Railways to introduce e-ticketing: The Railways plans to introduce e-ticketing as a pilot scheme on selected Shatabdi Express trains by allowing the passengers to print their own tickets.

Hub Hyderabad for Air Sahara's international ops: Air Sahara, one of the top three airlines in India, has declared Hyderabad as its International Hub and announced an ambitious plan of operating 126 flights per week connecting Hyderabad to 25 major cities across India from February next.

NTPC stock up 22% in electrifying debut: National Thermal Power Corporation (NTPC) soared to the third spot in market-cap sweepstakes in a blazing debut topped up with a 22 per cent gain.

Hindujas' plea against charges: The Hindujas today told a Delhi court hearing the Bofors case that it cannot frame charges against them in the absence of originals of relevant documents or the legally authenticated copies.

Reliance Info gets a breather: Subscribers of Reliance Infocomm and Bharat Sanchar Nigam will be able to make calls to each other for the next 25 days.


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