Assertion: At some given instant $I_1$ and $I_2$ both are $2A$ each. Then, $I$ at this instant should be zero.

Reason: There is a phase difference of $\pi$ between $I_1$ and $I_2$ functions.

${\mathrm{I}}_1$ and ${\mathrm{I}}_2$​ are both of 2A and going through capacitor and inductor connected in parallel.
Let the voltage across them be $\mathrm{v}={\mathrm{V}}_0\sin \mathrm{\omega t}$.
Current in inductor ${\mathrm{i}}_2={\mathrm{I}}_0\sin \left(\mathrm{\omega t}-\frac{\mathrm{\pi }}{2}\right)$.
Current in capacitor ${\mathrm{i}}_1={\mathrm{I}}_0\sin \left(\mathrm{\omega t}+\frac{\mathrm{\pi }}{2}\right)$.
Hence there is a phase difference of $\mathrm{\pi }$ between the currents of same magnitudes in both wires and the total current $\mathrm{I}$ is zero.