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Belated return - Setoff of business loss

This query is : Resolved 
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(Querist)
11 April 2009 Can the loss arising from one business "Business Loss" can be setoff against the income of another business during the same year - while filing belated return.
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CA Sanjeev Kr Jain

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CA Sanjeev Kr Jain (Expert)
12 April 2009 yes
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
12 April 2009 yes u can.

u can not carry forward the loss
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
12 April 2009 It's possible but only when the return of income is filed u/s 139(1) or else not.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 April 2009 It seems Mr. Nitin's view is correct.
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Deepak Goel

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Deepak Goel (Expert)
13 April 2009 Yes, Mr. Nitin is correct
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Sanjay Soni

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Sanjay Soni (Expert)
13 April 2009 yes
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CMA KNVV Sri Vidya - Sri Kanth

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CMA KNVV Sri Vidya - Sri Kanth (Expert)
15 April 2009 Yes, Mr. Nitin is correct
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