This Panzerkampfwagen III Ausf.J, chassis number 74035 belongs to the 24. Panzer-Division as indicated by the leaping horse and rider insignia on the fender, at left (not quite visible in this photo). There is also a diagonal arrow next to the driver's pivoting visor, which was probably an alternate division insignia. This panzer is armed with the longer L/60 version of the 5cm KwK39 main gun. Note the arrangement of various lights and the horn, as well as the power conduits that run to them. The panzers also has covers on all of its weapons, as well as spare tracks stored on the front and for extra protection. The picture was taken on July 1942, when 24PzD was subordinated to 4. Panzergruppe / Heeresgruppe Weichs. Defensive operations of Soviet troops at South-Western direction were the main actions of summer 1942. In Western links this campaign is known as operation Blau and Klausevic, and in the domestic historiagraphy as Voronezhsko-Voroshilovgrad defensive operation. Wehrmacht caught again stratigic initiative, using big concentration of troops on the main hit directions and mistakes of Red Army's command in organizing defense and pursuing defensive operation. German troops have penetrated Soviet defensive lines on the Southern wing of Soviet-German front and were able to move in some areas upto 150-400 kilometers into Soviet Union's territory, causing threat for invading Northern Caucasia and the area of Stalingrad. Due to losses of Bryansk, South-Western and Southern fronts Soviets have lost main industrial and agricultural areas (Voroshilovgrad, Voronezh, Rostov, Lisichansk, Novocherkassk, Shakhty and so on), and German units have been able to seize several bridgeheads on the left bank of the Don river.
Despite of all of that, Red Army's unit have been able to escape large encirclement and suffered great combat casualties. On the official data about Soviet Union Armed Forces casualties during the Great Patriotic war, in Voronezhsko-Voroshilovgrad operation from the 28th of June to the 24th of July, 1942, Red Army lost in dead, wounded and captured 368347 soldiers and officers, 2436 tanks, 133716 guns and mortars and 783 fighting planes. Nevertheless, German command haven't accomplished its task - to encircle and destroy main forces of Southwestern and Southern fronts, and couldn't seize Stalingrad from the move and approach the Caucasus.
Source :
Book "Panzer Vor: German Armor At War 1939-45" by Frank V. De Sisto
http://www.aviapress.com/viewonekit.htm?FRI-026