https://www.taxtmi.com/caselaws?id=20916 The court determined that the agreement dated December 19, 1978, was not a new agreement but an extension of the agreement dated March 12, 1964. As a result, royalties received under this extended agreement were subject to a higher tax rate of 50%. The court emphasized that the parties intended to continue the original contract with modifications rather than create a new, separate agreement. en-us Thu, 22 Nov 1990 00:00:00 +0530 Wed, 18 Nov 2009 10:53:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20916 The court determined that the agreement dated December 19, 1978, was not a new agreement but an extension of the agreement dated March 12, 1964. As a result, royalties received under this extended agreement were subject to a higher tax rate of 50%. The court emphasized that the parties intended to continue the original contract with modifications rather than create a new, separate agreement. Case-Laws Income Tax Thu, 22 Nov 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20916