TaxTMI 
TaxTMI 
2003 (2) TMI 470
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....e turnover of Rs. 93.50 and nil respectively. Similarly for the assessment year 1993-94 the assessee reported a total and taxable turnover of Rs. 2,73,500. On a verification of the accounts of the assessee for the above two years the Additional Sales Tax Officer-III, First Circle, Thiruvananthapuram, found that the assessee did not include in its return the charges received towards the sale of information received from U.S. Computers, etc. The assessments were completed on a taxable turnover of Rs. 2,69,380 for the year 1992-93 and on Rs. 10,40,850 for the year 1993-94. The appeals filed by the assessee against the said orders were dismissed. Second appeals filed against the same were also dismissed confirming the order of the first appella....
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....er in pursuance of a contract or not, of the property in goods by one person to another in the course of trade or business for cash or for deferred payment or other valuable consideration, but does not include a mortgage, hypothecation, charge or pledge; The definition of "goods" under section 2(xii) reads as follows: " 'goods' means all kinds of movable property other than newspapers, actionable claims, electricity, stocks and shares and securities and includes live stock, all materials, commodities and articles including those to be used in the construction, fitting out, improvement or repair of immovable property or used in the fitting out, improvement or repair of movable property and every kind of property whet....
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.... technical value, which is general in character and which can be used by interested parties in their business, and so, the appellants transact in such informations for money consideration. The above nature of the transactions makes them a 'sale' for valuable consideration and so, the turnovers involved in such transactions are taxable at the appellant's hands." From this it is clear that the transaction is covered by the definition of "goods" and certainly once the various deductions available under rule 9 of the Kerala General Sales Tax Rules, 1963 are allowed, the balance turnover will become the taxable turnover which is exigible to tax under the Act. 5.. We have no doubt that the transaction in question is g....