CHINA Light and Power Company Ltd has had the rateable value of its property increased by $20 million to $2.02 billion in an unprecedented review judgment handed down by the Lands Tribunal yesterday. The tribunal, comprising Judge Cruden and members P. L. Brown and K. G. Morrison, made the decision after both the company and the Government applied for a review of an appeal judgment delivered by the tribunal on April 30 this year. The company began the appeal to the tribunal in January against the Government's rating assessment of $3.254 billion on the company's properties in 1991. The Government charged the company rates totalling $158.4 million for the year, or 5.5 per cent of the rateable value. However, China Light and Power claimed the rateable value of its properties was $1.375 billion for 1991 and that the rates it should have paid were $77 million. On appeal in the tribunal last April, the company's rateable value was reduced from $3.254 billion to $2 billion. The utility company's successful appeal against the Government's assessment involved the largest amount, in relation to the value of land and buildings, ever disputed in Hong Kong courts. On May 23, the Commissioner of Rating and Valuation appealed to the Court of Appeal on a point of law on the judgment made by the tribunal on April 30. The company cross-appealed and also filed the present review application. Yesterday, Judge Cruden said this was the first time a party had filed an application to review the tribunal's judgment after the case had gone to the Court of Appeal on a point of law on the same judgment. The Government's appeal is yet to be heard. The tribunal refused to hear new evidence from a British valuer China Light and Power wished to call.