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of <h1>Supreme Court Affirms Software on Hard Discs Included in Computer Valuation; Excludes Separately Supplied Media.</h1> The circular addresses the valuation of computer systems sold with software, clarifying that for periods before and after July 1, 2000, the value of software etched or pre-loaded on a computer's hard disc should be included in the computer's assessable value. This includes both operating and application software, but excludes software supplied separately on physical media like floppies or discs. The Supreme Court's decision in PSI Data System Ltd. vs. CCE supports this valuation approach, emphasizing that only tangible software was considered in their judgment. The introduction of the 'transaction value' concept does not alter this valuation principle.
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