In case where a business incur losses during tax holiday, can it be carried forward after the tax holiday is over ?

e.g. company ABC limited was exempt for 5 years being a 100% export company and it made losses for first 5 years during the exemption period , in the 6th year it had carried forward losses of 4.5Cr and earned an Income of 1.2 Cr. Is that 1.2 Cr. be taxable in the 6th year ?