Sec. 194C applies only if there exist a contractual arrangement between parties

Brief Facts of the Case- Assessee made payment to Punjab Water Supply & Sewerage Board (‘Board’)for laying of sewerage pipe lines & water supply lines on account of legal obligation under section 24(1) of the Punjab Water Supply and Sewerage Board Act, 1976 in each of F.Y. 2006-07, 2007-08, 2008-09 and 2009-10.

Contention of Revenue– Payment on account of financial transactions bounded by statute for laying of sewerage pipe lines, water supply lines made to Board, for work un

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