Revenue expenses allowed despite different treatment in books

Brief of the Case ITAT Mumbai held in the case of Reliance Wellness Ltd. vs. DCIT that  treatment given in the books of account is not relevant to examine the claim put forth by the assessee. In this case Assessee was in  the process of expansion of its business operations by opening various new shops and booked revenue nature  expenditures  for the purposes of expansion of its business, which cannot be identified with any Particulars shop  under the head ‘Project Development Expenditure’ even though the assessee had shown the same in the Balance Sheet as “Capital work in pr...