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Money paid by marketing agency to TV serial producer without interest wouldn't give rise to financial debt

January 13, 2020[2019] 112 taxmann.com 389 (NCL-AT)
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IBC: Where a marketing agency, appellant, paid amount under marketing agreement to TV programme/Serial producer in lieu of rights of 'free commercial time' (FCT), since there was no clause that amount paid by appellant was to be repayable along with interest over a period of time, same would not be give rise to financial debt

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