Mumbai ITAT Deletes Section 69A Addition as CHA Customs Duty Collections Are Fiduciary Receipts

Sai Dutta Clearing Agency Pvt. Ltd. Vs ITO (ITAT Mumbai) Mumbai ITAT Deletes ₹1.36 Crore Addition u/s 69A – Customs Duty Collections by CHA Are Fiduciary Receipts, Not Taxable Income The ITAT Mumbai deleted the addition of ₹1,36,25,280 made under Section 69A of the Income-tax Act, 1961, holding that amounts received by the assessee, a licensed Customs House Agent (CHA), represented fiduciary receipts collected from a client for payment of customs duty and other statutory charges rather than unexplained money. The Tribunal found that the assessee had consistently explained that it earned ...