It depends on what "same time" means.
If it means in the same day, no.
If it means in the same three months, yes, but it is tough.
For most of us it is easier to "cycle," going from "bulk" which is to add calories above needs in order to gain muscle from hard workouts, and then "cut" which is to subtract calories below needs in order to strip off the fat.
Tom Venuto has written a great article on this topic which I commend to your review. Cut this link out and put it into your browser -- well worth the read!
Train hard, diet harder!