Method of calculating the value of the leased inherited property;

Article 9 (1) of the former Inheritance Tax Act (amended by Act No. 4662 of Dec. 31, 1993) provides that the value of inherited property shall be based on the current status as at the time of the commencement of inheritance. According to Article 5 (1) of the former Enforcement Decree of the Inheritance Tax Act (amended by Presidential Decree No. 12993 of May 1, 1990), the value based on the current status as at the time of the commencement of inheritance under Article 9 of the same Act shall be based on the current status as at the time of the commencement of inheritance, if it is difficult to calculate the market price based on the current market price at the time of the commencement of inheritance. In light of the form and content of each provision, the fact that inherited property is being leased is not considered in calculating the value by

Article 9(1) of the former Inheritance Tax Act (amended by Act No. 4662 of Dec. 31, 1993); Article 5 of the former Enforcement Decree of the Inheritance Tax Act (amended by Presidential Decree No. 1293 of May 1, 1990)

Supreme Court Decision 83Nu480 Decided January 31, 1984 (Gong1984, 456) Supreme Court Decision 84Nu72 Decided June 10, 1986 (Gong1986, 875)

Orok et al. and four others

The head of Yangcheon Tax Office

Seoul High Court Decision 95Gu2014 delivered on November 23, 1995

The judgment below is reversed and the case is remanded to Seoul High Court.

The grounds of appeal by Defendant Litigation Performers are examined.

Article 9 (1) of the former Inheritance Tax Act (amended by Act No. 4662 of Dec. 31, 1993) provides that the value of inherited property shall be based on the current status as at the time of commencement of inheritance, and Article 5 (1) of the Enforcement Decree of the same Act (amended by Presidential Decree No. 12993 of May 1, 1990) provides that the value based on the current status as at the time of commencement of inheritance as at the time of commencement of inheritance shall be based on the method of evaluation provided for in Article 9 (2) through (5) of the same Act if it is difficult to calculate the market price based on the current status as at the time of commencement of inheritance, and in light of the form and content of each provision above, it shall not be considered that the inherited property is being leased

According to the records, it is recognized that the non-party A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-A-Sa

Nevertheless, the court below held that the value of the land on which no building is constructed on the land of this case is higher than that of the land in the case where a building owned by another person is constructed on the land of this case without examining the title to construct the building on each land of this case. Thus, the judgment of the court below is erroneous in the misunderstanding of legal principles as to the calculation of the value of inherited property, and it is obvious that such illegality has affected the judgment, and thus, it is therefore justified in the misapprehension of legal principles as to the calculation of the value of inherited property.

Therefore, without examining the remaining grounds of appeal, the judgment of the court below shall be reversed, and the case shall be remanded to the court below for a new trial and determination. It is so decided as per Disposition by the assent of all participating Justices.

Justices Shin Sung-sung (Presiding Justice)