For the previous year 2014-15, an assessee suffered a business loss of ₹2,50,000. His income from other sources is ₹1,80,000. His due date of return was 31 st July, 2015 but he submitted the return on 9 th September, 201

For the previous year 2014-15, an assessee suffered a business loss of ₹2,50,000. His income from other sources is ₹1,80,000. His due date of return was 31 st July, 2015 but he submitted the return on 9 th September, 2015. The assessee in this case— (A) Shall be allowed to carry forward the loss of ₹70,000 (B) Shall not be allowed to carry forward any loss (C) Shall be allowed to set-off current year business loss to the extent of ₹1,80,000 but shall not be allowed to carry forward the balance loss of ₹70,000 (D) Shall not be allowed to set-off the business loss to the extent of ₹1,80,000 and would be liable to tax on ₹1,80,000.