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
9. Therefore, the AO came to a conclusion that the Long Term Capital Loss on sale of shares to the tune of Rs.24.00 crores have not been supported by any valid and reasonable explanations and documents and hence, brought to tax by holding as under:
“4.4. The assessee has failed to submit any evidence before us to reasonably justify undertaking
