Carry Forward the Losses of Trust

Aarush (Delhi) (1566 Points)

18 September 2009  

A turst whos income tax return is filed regurlarly and within time limit - from last several years - but from last 2-3 trust is in loss.

 in current year trust is in profit.

 My question is can we set off this loss in the current or not ............ ? What is the Sec if it can ? and is there any Case law for this?