PROTOCOL - Protocol - Lebanon

PROTOCOL The Government of India and the Government of the Republic of Lebanon Having entered into an Agreement for the avoidance of double taxation of income of enterprises operating aircraft which is effective in respect of income assessable for any year of assessment commencing on or after the 1st day of April, 1962. Recognising that Air-India which is an enterprise of India and Middle East Airlines which is an enterprise of the Republic of Lebanon have been deriving income, respectively, in the Republic of Lebanon and India from the operation of aircraft in international traffic which is assessable for one or more years of assessment prior to the year of assessment commencing on the 1st day of April, 1962. Considering that the Indian Income-tax Act, 1922 (11 of 1922), has been repealed with effect from the 1st day of April, 1962, Have accordingly agreed at the time of signing of the said Agreement as follows: The Government of India has not levied any Indian tax on the income of Middle East Airlines for any of the years of assessment aforementioned and hereby agrees not to levy such tax hereafter, and The Government of the Republic of Lebanon has not levied any Lebanese tax on the income of Air-India for any of the years of assessment aforementioned and hereby agrees not to levy such tax hereafter. And, have further agreed that this Protocol shall constitute an integral part of the said Agreement. In witness whereof the undersigned, duly authorised thereto, have signed the present Protocol. Done in duplicate at Beirut this 22nd day of February, One thousand nine hundred sixty-eight in the Hindi, Abrabic and English languages, all the three texts being equally authentic, except in the case of doubt when the English text shall prevail. Sd. K. SRINIVASAN For the Government of India. Sd. KHALIL SALEM, For the Government of the Republic of Lebanon