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foreign tour sponsered by non employer.

This query is : Resolved 
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(Querist)
25 September 2010 In an agriculture university The foreign tour (including all expenses) is sponsored by a seed selling MNC. is it taxable under income tax/gift tax etc
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CA Punit

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CA Punit (Expert)
25 September 2010 It is not taxable

other opinions appreciated
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venkatraman shrinivas

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venkatraman shrinivas (Expert)
27 September 2010 It is not taxable, since the benefit cannot be measured in terms of monetary worth as attributable to each person. besides the beneficiary is the university the income of which is exempt under section 10(23(c)(iiiab) or 10(23)(c)iiiad)The income cannot also be roped in for taxation under section 56(vi) as such course is open only for taxing an individual or a HUF.
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