Step 1: Formula
Time of flight on an incline for 'up' is $T_{1}=\frac{2u \sin(\alpha-\beta)}{g \cos \beta}$ and for 'down' is $T_{2}=\frac{2u \sin \theta}{g \cos \theta}$.
Step 2: Analysis
Substituting $\alpha=2\theta$ and $\beta=\theta$, both yield $T = \frac{2u}{g} \tan \theta$.
Step 3: Collision
The relative acceleration is zero, and relative velocity is directed along the line joining them, leading to a mid-air collision.
Final Answer: (A)