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Case Number of the immediately preceding lawsuit
Seoul High Court 2015Nu72063 (Law No. 25, 2016)
Case Number of the previous trial
Examination 2014-0023 (O4.27)
Title
Whether the transfer of outstanding shares is subject to the avoidance of wrongful calculation
Summary
The instant transaction is subject to the avoidance of wrongful calculation because it cannot be deemed that there is economic rationality in light of sound social norms and commercial practices.
Related statutes
Article 52 of the Corporate Tax Act
Cases
Supreme Court Decision 2016Du52620 ( October 12, 2017)
Plaintiff-Appellee
Hand**** Company
Defendant-Appellant
* Commissioner of the Regional Tax Office
Judgment of the lower court
Seoul High Court Decision 2015Nu72063 Decided August 25, 2016
Imposition of Judgment
d. 2, 2017
Text
The appeal is dismissed.
The costs of appeal are assessed against the defendant.
Reasons
Examining the lower judgment and the grounds of appeal, the grounds of appeal by appellant are not included in the grounds of appeal under each subparagraph of Article 4(1) of the Act on Special Cases Concerning the Procedure for Appeal, or are deemed to fall under each subparagraph of paragraph (3). Therefore, the appeal is dismissed under Article 5 of the same Act. It is so decided as per