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Long term Capital Gain adjustment with co. Losses

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(Querist)
28 March 2009 Dear Sir / Madam

Our company has a plot of land on the name of self from 1947 and it is running from last few years in loss. Now Board of directors decided to sell out that plot to clear the liability on the name of company.
can the liability be cleared by that.

plz clear it

santosh
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
28 March 2009 sure , what is problem take approval from BOD
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Rajesh Kumar

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Rajesh Kumar (Expert)
28 March 2009 Off course yes.
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