21 Jun 2011
THE HONGKONG ELECTRIC CO LTD v. COMMISSIONER OF RATING AND VALUATION
- Citation
- THE HONGKONG ELECTRIC CO LTD v. COMMISSIONER OF RATING AND VALUATION
- Court
- Court of Final Appeal
- Case number
- FACV12/2010
The Court unanimously held the Lands Tribunalʹs valuation methodology (receipts and expenditure with the tenantʹs share assessed on the basis accepted by the Tribunal) was lawful and that assets under construction which were not capable of occupation at the relevant date are not part of the rateable tenement and must be excluded, requiring adjustment to the divisible balance; the Court of Appeal erred in law by misapplying principles from other valuation methodologies, by treating Agrila and statutory provisions inconsistently, and by substituting its own valuation reasoning, and the Lands Tr…