Anantam Highways Trust, a business trust, registered under SEBI (Real Estate Investment Trusts) Regulations, 2014, has generated an interest income…

Anantam Highways Trust, a business trust, registered under SEBI (Real Estate Investment Trusts) Regulations, 2014, has generated an interest income of 10 lakh and a dividend income of 5 lakh from Zee Ltd during the P.Y. 2024-25. It also realised short-term capital gains of 4 lakh from the sale of listed shares of Indian companies on 31-10-2024, with Securities Transaction Tax (STT) paid both at the time of purchase and sale. Zee Ltd. is an Indian company in which the business trust holds 100% of the shareholding. Zee Ltd. does not opt to pay tax under section 115BAA. Anantam Highways Trust has accumulated the entire income except interest income which is distributed to its unitholders in March 2025. Mr. Xavier, a resident unit holder, owns 100 units, while Mr. Yatin, a non-resident unit holder, holds 500 units. The total number of units subscribed by all unit holders amounts to 5,000. Mr. Yatin, the Managing Director of XYZ Pvt. Ltd., has been provided with an air-conditioner worth - 75,000 at his residence in Delhi as part of his employment terms. However, the company has recorded this asset in its books of account as if it were installed in the quality control section of its factory, with the intention of classifying it as "plant" and claiming depreciation accordingly. Mr. Xavier is engaged in cryptocurrency trading. During the financial year, he transferred cryptocurrencies for 4,20,000. The cost of acquisition for these cryptocurrencies was - 70,000. In addition, he took a loan to invest in cryptocurrencies and incurred an interest expense of 20,000 on this loan. From the information given above, choose the most appropriate answer from MCQ 1 to MCQ 3 below: