The account titles (former law relations) of the balance sheet that a corporation shall publish in a daily newspaper under the Corporate Tax Act.

Since it is clear that the balance sheet under Article 40 (1) of the former Corporate Tax Act (Act No. 1720, Dec. 20, 65) refers to the balance sheet under the Commercial Act, the balance sheet to be announced under Article 5 (2) of the Addenda of the Commercial Act shall also be in accordance with the rules on the accounting documents of the corporation, which is 1221 of the Decree enacted under Article 5 of the Addenda of the Commercial Act

Article 64 of the Corporate Tax Act

Korea Electric Cable Corporation

Head of the Nowon-gu Tax Office

Seoul High Court Decision 68Gu531 delivered on September 30, 1969

We reverse the original judgment.

The case is remanded to Seoul High Court.

The defendant's attorney's grounds of appeal are examined.

According to the reasoning of the judgment of the court below, the defendant's disposition imposing an additional tax on the plaintiff from January 1, 1965 to December 31 of the same year on the ground that the balance sheet and the profit and loss statement for the business year 1965 ending on July 16, 1968 were not lawfully announced, and the court below accepted the plaintiff's claim on the ground that it was unlawful to impose an additional tax on the plaintiff on the balance sheet to be publicly announced by the corporation under Article 40 (2) of the Corporate Tax Act and there was no provision in the tax law concerning the balance sheet to be publicly announced by the corporation under Article 40 (2) of the Corporate Tax Act, and it cannot be deemed that the case concerning the calculation documents of the corporation established by delegation of Article 5 of the Addenda of the Commercial Act (Ordinance No. 1221 of March 12, 1963) stipulated the title of the account in the balance sheet to be announced by the Corporate Tax Act.

However, according to Article 40 of the Corporate Tax Act (amended by Act No. 1720, Dec. 20, 1965) which enters into force within the period for public notice of the balance sheet under the Corporate Tax Act, a corporation shall keep its trade books under Articles 29 and 30 of the Commercial Act, order the corporation to keep its daily books under Article 29 of the Commercial Act and the list and balance sheet under Article 30 of the same Act, and a corporation under Article 40 (2) of the same Act shall publish its balance sheets and balance sheets in daily newspapers within the reporting period under Article 27. Since it is reasonable to interpret that the balance sheet under Article 40 (1) of the Corporate Tax Act is the same as the balance sheet under Article 40 (1) of the same Act, and thus, it shall be deemed that there is no error in the law of misunderstanding of the provisions of the Corporate Tax Act concerning the balance sheet under Article 20 (2) of the same Act and public notice of the balance sheet under Article 40 (2) of the same Act, which shall not be made.

Therefore, by the assent of all participating judges, the original judgment is reversed, and the case is remanded to the Seoul High Court. It is so decided as per Disposition.

Judge Han-dong (Presiding Judge) of the Supreme Court