YOGESH PRABHAKAR MODAK Vs. STATE

JUDGEMENT

(1.) 1. The applicant is an individual who was working as an employee of Morgan Stanley India Securities Pvt. Ltd. He resigned from Morgan Stanley in 1998 and left India on August "15, 1998, to take up job in USA. Afterwards, he was on very short visits (20 to 25 days) to India. He claims that he is a non-resident from the assessment year 1999-2000 onwards.

(2.) During the year 2002-2003, the applicant received Rs. 5,87,647 being payment from Morgan Stanley Staff Superannuation Fund. The payment was made to the applicant after deducting tax at source of Rs. 1,85,109.

(3.) IT is the contention of the applicant that the amount received from superannuation fund is taxable in the year of receipt.