Capitalisation in Books Does Not Decide Tax Deduction, Marketing Spend Allowed as Revenue

ACIT Vs Reliance Retail Ltd (ITAT Mumbai) No Section 14A Disallowance Allowed Because No Exempt Income Was Earned: ITAT Mumbai; Marketing Expenses for E-Commerce Platform Treated as Revenue Because They Promote Existing Business;  Section 14A Addition Invalid Without Exempt Income, Finance Act 2022 Amendment Not Retrospective; Section 14A Disallowance Cannot Be Added to Book Profit Under Section 115JB Without Exempt Income. The appeal by the Revenue and the cross objection by the assessee arose from the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC),...