Statement-I is true. DIBAL-H (Diisobutylaluminum hydride) is a reducing agent commonly used to reduce esters to aldehydes under mild conditions. After reduction by DIBAL-H, hydrolysis of the resulting intermediate leads to the formation of aldehyde.
\[
\text{Ester} \xrightarrow{\text{DIBAL-H}} \text{Aldehyde} \xrightarrow{\text{Hydrolysis}} \text{Aldehyde}
\]
Statement-II is false. Oxidation of benzyl alcohol with KMnO₄ (potassium permanganate) typically results in the formation of benzoic acid, not benzaldehyde. KMnO₄ is a strong oxidizing agent that oxidizes alcohols to carboxylic acids, so it cannot be used to selectively form benzaldehyde from benzyl alcohol.
Thus, the correct answer is that Statement-I is true and Statement-II is false.