assessee having two business

It will have to be combined and shown

 Dear Sir/Madam,

Every person carrying on the business or profession has to prepare a consolidated balance sheet and profit and loss account. This is a legal requirement under income tax act.

Regards

both will be combined and the net effect is shown in the balance sheet

Yes consolidated and  seperate balance sheet and p&l a/c should be prepared for both business. and consolidated should be filled up in itr forms.