Set off and Carry Forward Losses

Hi All

The company carry forward  Losses for previous 2 years and subsequetly chaged the nature of business by changing the object clause of the company and the name of the company  but has the same directors . If the company posts profits in the current financial year is it possiable to set off the losses of the previous years. Will IT authorities take objection due to the change in the nature of the business being offset of a different nature.

Ashwini Krishnen