Long term Capital Gains from sale of flat – whether brought forward long term capital loss to be setoff before deduction u/s.54EC

An assessee has earned long term capital gain on sale of his share of flat after determining the indexed cost.  He wishes to obtain exemption for the gain by investing in bonds u/s.54EC.  He also has brought forward long term capital loss which he would to set off against future gains on sale of shares.  Whether the long term capital gain on sale of flat has to be determined by first deducting the brought forward loss and he can avail the benefit of Section 54EC only in respect of the balance income?

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