Time and method for evaluating the standard market price of land designated as reserved land

In evaluating the standard market price at the time of transferring the land designated as the land scheduled for substitution, it is legitimate to calculate the standard market price in consideration of the appraisal value where the officially assessed land price of the land scheduled for substitution has not been determined and publicly announced.

Article 96 of the former Income Tax Act

Article 164 of the Enforcement Decree of the Income Tax Act: Calculation of Standard Market Price of Land and Buildings

1. The plaintiff's appeal is dismissed.

2. The costs of appeal shall be borne by the Plaintiff.

1. The judgment of the first instance is revoked. The imposition of capital gains tax of KRW 161,48,560 against the Plaintiff on March 1, 2004 by the Defendant shall be revoked.

1. The reasoning for the court’s explanation concerning this case is as follows, and the reasoning for the judgment of the court of first instance is as stated in the column of the reasoning for the judgment of the court of first instance. Thus, it is cited in accordance with Article 8(2) of the Administrative Litigation Act and Article 420 of the Civil Procedure Act.

(a) To correct the “appraisal institution” of the third 6th place as “appraisal institution”;

(b)one to seven evidence No. 10 shall be added to the column for recognition of the third 16-18 conduct.

C. On the 4th 7-9th 7th 7-9, “ insofar as the Defendant publicly announced the officially assessed individual land price for the instant land, it shall be deemed that the publicly assessed individual land price for the instant land was the standard market price,” and “ insofar as the Defendant publicly announced only the officially assessed individual land price for the previous land, it shall be deemed to be the standard market price for the instant land

2. If so, the judgment of the court of first instance is just, and the plaintiff's appeal is dismissed. It is so decided as per Disposition.