2013 (11) TMI 1205

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....ri K.S. Ravi Shankar & N. Anand Advocates For the Respondent: Shri R.K. Singla, Commissioner, (AR) ORDER Per: B.S.V. Murthy; Appellants are seeking waiver of pre-deposit and stay against recovery of excise duty demanded on Finacle, a software developed for banking industry and sold by them. The demand has been confirmed by invoking extended period with interest and penalties have been ....

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....off the shelf. It was submitted vehemently by the learned counsel that the product Finacle cannot be sold off the shelf at all and he relies on the expert's opinion given by one Prof. S. Sadagopan, Director of International Institute of Information Technology, Bangalore to submit that Finacle cannot be called as packaged software all. Further, he also relies upon the clarification issued by the TR....

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....packaged software should be the one which is available off the shelf in retail outlets. This seems to be the understanding of the Finance Ministry and at this stage, in our opinion it would be sufficient to come to the conclusion that the product Finacle, the software for the banking industry developed and sold by the appellants cannot be considered as a packaged software prima facie. Needless to ....