cyla 28lakh condonation

It should be allowed.

You may also try condonation of delay i.r.o e-verification. In both the cases, one must have genuine reasons.

Go to the ‘My Account’ menu located at upper-left side of the page ⇒ Click ‘Service Request’ ⇒ Select the ‘Request Type’ as ‘New Request’ and Select the ‘Request Category’ as ‘Condonation Request’ ⇒ Click ‘Submit’

Then try 119(2)(b).

When notice is sent for treating the return as invalid, then in some cases an option is given to the assessee to apply for condonation of delay to the Commissioner. This fact is written in the notice.

S.119(2)(b) Stipulates that - The Board may, if it considers it desirable or expedient so to do for avoiding genuine hardship in any case or class of cases, by general or special order, authorise any income-tax authority, not being a Commissioner (Appeals) to admit an application or claim for any exemption, deduction, refund or any other relief under this Act after the expiry of the period specified by or under this Act for making such application or claim and deal with the same on merits in accordance with law;

The time limit for claiming the loss is specified u/s 139(3)

 If any person who has sustained a loss in any previous year under the head "Profits and gains of business or profession" or under the head "Capital gains" and claims that the loss or any part thereof should be carried forward under sub-section (1) of section 72, or sub-section (2) of section 73, or sub-section (2) of section 73A] or sub-section (1) or sub-section (3) of section 74, or sub-section (3) of section 74A, he may furnish, within the time allowed under sub-section (1), a return of loss in the prescribed form and verified in the prescribed manner and containing such other particulars as may be prescribed, and all the provisions of this Act shall apply as if it were a return under sub-section (1).

Since, now, a claim of loss cannot be filed under any other provision of the Act, S.119(2)(b) is the only appropriate remedy available. That's the reason why I asked for condonation of delay i.r.o 139(9), because if that option was available then it could not have been said that assessee does not any alternate remedy.