ASSISTANT COMMISSIONER OF INCOME TAX LTU CIRCLE 1 CHENNAI, CHENNAI vs. PRUDENTIAL SUGAR CORPORATION LIMITED, CHITOOR
ITA 2298/CHNY/2024[2018-19]Status: DisposedITAT Chennai17 Jul 2025AY 2018-19
Bench: Shri S.S. Viswanethra Ravi & Shri S. R. Raghunathaआयकर अपील सं./Ita No.:2298/Chny/2024 िनधा"रण वष" / Assessment Year: 2018-19 The Assistant Commissioner Of Prudential Sugar Corporation Income Tax, Vs. Limited, Ltu, Circle -1, Prudential Nagar, Chennai. Koppedu Post, Nindra, Mandal – 517 587. [Pan:Aaacp-4338-D] (अपीलाथ"/Appellant) (""थ"/Respondent)
For Appellant: Ms. E. Pavuna Sundari, C.I.TFor Respondent: Shri. D. Anand, Advocate
Section 50Section 50B
section 270A.
6. A show cause notice dated 25.03.2021 was issued to the assessee along with Draft Assessment Order. The assessee was asked to submit its reply by 30.03.2021. In its response dated 30.03.2021, the assessee has stated the following:
That we invested in preference shares of both the companies on the basis of the comprehensive analysis and future prospects
