Assessment of Municipal tax— Appellate Division is of the view that the annual valuation of the building in question is to be assessed on the gross annual rent recovered by the Sonali Bank from its employees residing in the building at the rate of 7½% and 5% from their basic pay minus 2 months rent as maintenance allowance and this amount may increase or decrease from time to time depending of the increase/decrease of basic pay of the employees concerned residing in the building. The Appeal is accordingly dismissed with above observations without any order as to costs. .....City Corporation, Chittagong =VS= Sonali Bank, (Civil), 2025(1) [18 LM (AD) 523] ....View Full Judgment

Annual valuation is to be assessed on the gross annual rental of the building minus two months' rent as maintenance allowance. Hence the order of the Additional Commissioner, Chittagong Division, Chittagong fixing the annual valuation at Taka 2 per square foot is without any legal basis. City Corporation, Chittagong vs Sonali Bank 13 BLC (AD) 77.

Assessment of Municipal tax
Held: in our view annual valuation is to be assessed on the gross annual rental of the building minus two month’s rent as maintenance allowance. Chittagong City Corporation & Ors Vs. Sonali Bank & Ors 15 BLT (AD)379.