Applicability of section 194C of IT Act qua film financing arrangement containing provision of recovery of advances/loans with interest

SUMMARY OF CASE LAW

Provisions of section 194C do not apply to the film financing arrangement of the kind in question.

RELEVANT PARAGRAPH

10. Section 194C relating to `payment to contractors and sub-contractors’ and relevant provisions read as under:-
“194C(1)Any person responsibility for paying any sum to a

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