1. Articles 111 and 130 of the former Local Tax Act (wholly amended by Act No. 10221, Mar. 31, 2010; hereinafter the same shall apply) shall be the value reported by taxpayers as the basic tax base for the acquisition tax and registration tax, and if the value reported is not or is short of the standard tax base, the standard tax base shall be the standard tax base: Provided, That if the requirements under Article 111(5) are satisfied, the tax base shall be determined by the actual acquisition price verified regardless of whether or not a taxpayer has reported

(See Supreme Court Decision 2005Du11128 Decided July 6, 2006. Article 111(5)3 of the former Local Tax Act provides that the acquisition price shall be calculated based on the actual acquisition price in the case of “acquisition for which the acquisition price is proved by what is prescribed by the Presidential Decree among corporate books.” Although it does not correspond to the acquisition price solely on the ground that the book value of a corporation is the book value, it does not constitute a unconditional tax base regardless of whether it is actual acquisition price (see Supreme Court Decision 92Nu15895, Apr. 27, 1993). If credibility exists to deem that the book value of a corporation conforms to the actual acquisition price, the reported amount shall be the tax base prior to

2. Review of the reasoning of the lower judgment and the evidence duly admitted by the lower court reveals the following facts.

(1) On January 8, 2010, the Plaintiff’s land (hereinafter “instant land”) on 119 parcel, including 38-1, etc. from Hyundai Cement Co., Ltd. (hereinafter “Modern Cement”), ② buildings (g) and ③ residential water pipes and equipment, etc. (hereinafter “instant structure”), ④ 53 structures (hereinafter “instant courses”), ④ 50 courses (hereinafter “instant courses”), (5), (6), vehicle transport equipment, 7, public machinery fixtures, 8 trees, 9, and 9, below the above sales rights.