Seva Jyoti Foundation, a charitable trust, is registered under section 12AB of the Act. On 1.4.2025, it got merged with another entity not eligible…

Seva Jyoti Foundation, a charitable trust, is registered under section 12AB of the Act. On 1.4.2025, it got merged with another entity not eligible for registration under section 12AB or approval under section 10(23C). All the assets and liabilities of the erstwhile trust became the assets and liabilities of the merged entity. The trust appointed a registered valuer for the valuation of its assets and liabilities. The trust furnished the following information as on 1.4.2025: Stamp duty value of land held ₹ 15 lakhs. However, if this land is sold in the open market, it would ordinarily fetch ₹ 17 lakhs. The book value of the land is ₹ 20 lakhs. 75,000 equity shares in C Ltd. traded in Delhi Stock Exchange. The lowest price per share on 1.4.2025 was ₹ 75 and the highest price on that day was ₹ 85. The book value was ₹ 67 lakhs. 55,000 preference shares held in X Ltd. The shares will fetch ₹ 44 lakhs, if they are sold in the open market on 1.4.2025 Book value was ₹ 25 Lakhs. Corpus fund as on 1.4.2025 ₹ 15 Lakhs. Outside liabilities ₹ 90 lakhs Provision for taxation ₹ 5 lakhs. Liabilities in respect of payment of various utility bills ₹ 6 lakhs. Based on the above facts, choose the most appropriate answer to Q.7 to Q.12 below: