Section 11(2) Exemption: Entities with lawful public utility schemes not classified as business; Section 2(15) proviso inapplicable.

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....Exemption u/s 11(2) - pursing these valid objects of general public utility through lawful statutory schemes cannot be considered as business activity, and, as a corollary thereto, exemption under section 11(2) cannot be declined by invoking proviso to Section 2(15)....