M/S. D. Drukker & Co. (I) Pvt. Ltd. & Anr.
The Kolkata Municipal Corporation & Ors.
In a significant development, valuation carried out by the Kolkata Municipal Corporation subsequent to assessment under the Annual Rateable Value System as well as Unit Area Assessment System, which was more than 200 times the previously assessed value, in respect of the land on which ITC Sangeet Research Academy is situated, has been set aside on the ground of violation of principles of natural justice and assessment of the premises was remanded back to the Kolkata Municipal Corporation after serving notice to the affected party including ITC Ltd. which is the lessee of the said premises and also a person liable to pay tax. The demand of Rs. 1,80,45,224/- (Rupees One Crore Eighty Lakhs Forty Five Thousand
Two Hundred Twenty Four only) was also accordingly set aside.
ITC Limited was represented by Mr. Sourav Bhagat, Partner and Mr. Prajata Chakrabutty, Senior Associate, who were assisted by Mr. Ritwik Saha, Associate, and guided by Mr. Debanjan Mandal, Managing Partner.