Consider the following statements: Statement-I: Interest income from the deposits in Infrastructure Investment Trusts (InvITs) distributed to their investors is exempted from tax, but the dividend is taxable. Statement-II: InvITs are recognized as borrowers under the 'Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002'. Which one of the following is correct in respect of the above statements?

Statement-I: Incorrect. In InvITs, interest distributed to investors is generally taxable in the hands of investors, while dividend can be exempt in certain cases depending on the tax regime of the SPV/company. So the statement reverses the tax treatment.

Statement-II: Correct. InvITs have been recognized as borrowers under the SARFAESI Act, 2002, enabling lenders to enforce security interests.

Option check: Since Statement-I is incorrect but Statement-II is correct, the correct answer is (d).