Article 26 - Termination - Libya

ARTICLE 26 TERMINATION This Convention remains in force until denounced by one of the Contracting States. Either Contracting State may denounce the Convention through diplomatic channels by giving notice of termination at least 6 months before the end of any calendar year beginning 5 years after the agreement enters into force. In such event the Convention shall cease to have effect after the end of the calendar year during which notice of the denouncing of the Convention is given by one Contracting State to the other. In witness of the agreement reached as above, the signatories have today signed this Convention by virtue of the authority delegated to them for this purpose by their respective Governments. Done in duplicate at Tripoli, on March 2, 1981 corresponding to 25, Rabiul Akhar 1390 P.D. in the English, Hindi and Arabic languages, all texts being equally authoritative except in the case of doubt, the English text shall prevail. ***** Judicial analysis n Where assessee had already paid TDS amounting to Rs. 21,150 in foreign currency on his foreign income against his tax liability of Rs. 14,496, as computed in India under the Act, no demand for tax could have been made against the assessee ITO v. Dr. B.K. Jain [1995] 52 ITD 367 (Jp.) (SMC).