15 Feb 1995
China Light & Power Co. Ltd. v. Commissioner for Rating & Valuation
- Citation
- China Light & Power Co. Ltd. v. Commissioner for Rating & Valuation
- Court
- Court of Appeal
- Case number
- CACV101/1994
The Court held that the Lands Tribunal did not err in principle: it lawfully valued on a yearly tenancy while assuming a probable four‑year continuation, valuation method choices (including treating end asset value differently, use of WACC and profits method) are matters of valuation judgment not errors of law, and the Tribunal had no power under s.11A(1) to alter the text of its earlier reasons; accordingly the Commissioner's main grounds failed but paragraph 3 of the second order (purporting to vary the first judgment) was set aside.