MUNICIPAL CORPN. OF GREATER MUMBAI vs KAMLA MILLS LTD.

The Supreme Court addressed the issue of whether a Municipal Corporation can assess the rateable value of land after the demolition of a building for new construction, specifically under the context of municipal tax assessments. The Court held that the Corporation is entitled to assess the rateable value based on the market value of the land, as it becomes a buildable plot post-demolition. The judgment clarified the methodology for determining the rateable value, emphasizing the importance of considering the potential for construction on the land.