Deferred Tax - Boon for Loss Making companies?

Deferred Tax (DT) is being provided by all the companies, while presenting their yearly and quarterly numbers. DT is a non cash item, being notional book entry, which is neither paid as Tax to the Govt. in case of Debit, nor received from Tax Department, if it is in credit. This is the accounting treatment prescribed by ICAI, which is the tax liability calculated on difference in Net Book Value of Assets, less Written Down Value of  Assets as per Income Tax.

PVR for H1 FY21 had net loss before tax of Rs. 621 cr. With DT credit of Rs. 211 cr. , net loss got reduced to Rs. 410 cr., while this reduced net loss is highlighted by Media. Does it mean that PVR got tax refund or cheque of Rs. 211 cr.? Answer is NO.

Even Reliance Industries for H1 FY21, on standalone basis, had a PBT of Rs. 13,105 cr. with DT credit of Rs. 3,155 cr, (while tax provision of Rs. 420 cr only), thus having PAT of Rs.15,840 cr. Isn't it strange to see PAT higher than PBT?  

Reliance Infra, for H1FY21 had loss before tax of Rs. 585 cr. But with tax provision of Rs. 75 cr and DT credit of Rs. 112 cr net loss was at  Rs. 548 cr.

Media anlaysts will not change, while will keep doing this wrong analysis, as majority of them do not understand this DT treatment. So, can ICAI, change this kind of confusing accounting treatment, in the larger interest of the investors?