Will the transaction cover under section 194 c or 194 i ??

I think its u/s 194I

agree with above under sec 194 i

194C only will applies, because the explanation placed below to the provision to the Section 194I says

“rent” means any payment, by whatever name called, under any lease, sub-lease, tenancy or any other agreement or arrangement for the use of any land or any building (including factory building), together with furniture, fittings and the land appurtenant thereto, whether or not such building is owned by the payee;

here the track does not covered in this explanation, so section 194C only will apply and not 194I

for more clarity 

The expression ‘any work’ used in section 194C means ‘works contracts’ and ‘contracts for work’, i.e., ‘labour contracts’ but not ‘service contracts’ or ‘transport contracts’ - Bombay Goods Transport Association v. CBDT [1994] 76 Taxman 334/210 ITR 136 (Bom.).

- Ashok