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1. The appellant has appealed against the respondent's assessment of the rateable value of $21,600 in respect of its committee room being Unit 2432A, Tsuen Wing Lau, 24th Floor, 16 Lai Tak Tsuen Road, Hong Kong. The appellant is a tenant of the subject tenement under a tenancy agreement from the Hong Kong Housing Society. The agreement provides for the subject tenement to be let on a monthly tenancy from the 1st day of February 1983 originally at a monthly rent of $429 exclusive of rates. The mo