“Section 138(1)(d)”

Charging fees, even when having regard to the economic status of beneficiaries, is permissible for the sustenance of charitable activities, provided it is necessary for operation and running expenses and does not amount to carrying on trade or commerce. This applies even after the introduction of the proviso to Section 2(15) of the Income Tax Act, 1961.

Reopening assessments beyond four years is permissible when specific information regarding foreign bank accounts is received, provided due process and prior approval are obtained.

Interest income earned by a cooperative society from its investments in other cooperative banks is not eligible for deduction under Section 80P(2)(d) of the Income Tax Act, particularly post the amendment by the Finance Act, 2015.