Time of transfer of land at the time of the former Income Tax Act (amended by Act No. 3576 of Dec. 21, 1982)

If a seller sells a parcel of land, the price for which the buyer has built a apartment house on the ground and undergo a completion inspection by the date of the completion inspection, and the buyer has constructed a apartment house on the land and received the completion inspection by consenting to the use thereof, it is reasonable to deem the time of transfer of the above parcel of land as the date of completion inspection to be paid the purchase price. Even if the actual payment of the purchase price has been delayed due to the subsequent reasons, the time of transfer can not be regarded as the date of payment in full.

Article 27 of the former Income Tax Act (amended by Act No. 3576 of Dec. 21, 1982)

[Defendant-Appellant] Plaintiff 1 et al.

Head of North Busan District Tax Office

Daegu High Court Decision 85Gu378 delivered on August 27, 1986

The appeal is dismissed.

The costs of appeal are assessed against the plaintiff.

The grounds of appeal are examined.

According to the judgment of the court below, since the plaintiff entered into an agreement on July 12, 1973 1, 96 Hobbes, 17, 1982, 24,075,00, and 3,08,321 won were transferred to the non-party 2, 197, 200, 197, 300, 2000, 197, 197, 208, 197, 200, 197, 197, 300, 197, 200, 197, 200, 17, 197, 197, 205, 197, 30, 197, 197, 25, 197, 25, 30, 197, 197, 25, 197, 25, 197,

The provision on the transfer or acquisition time of Article 27 of the former Income Tax Act is a provision that the date of receipt or receipt of part of the price other than the down payment shall be deemed the date of transfer or acquisition of the asset, and it shall not be the basis for the application of Article 62 (1) of the above Regulation of Tax Reduction and Exemption Act, which provides for the benefit of reduction and exemption of capital gains tax or special surtax, even at the time of transfer. However, as recognized by the court below, in this case, the plaintiff sold the land of this case, as determined by the court below, and the price shall be paid in full by the date of completion inspection after the non-party company constructed the apartment house on its land and passed the completion inspection until December 17, 1982, and the above non-party company constructed the apartment house on its land and received the completion inspection until the completion inspection, and it shall not be deemed that the time of transfer is the date of completion inspection as the date of completion inspection, and it shall not be deemed that the payment of the purchase price has been made at least 17 days prior to that date.

Therefore, the appeal is dismissed, and the costs of appeal are assessed against the losing party. It is so decided as per Disposition by the assent of all participating Justices.

Justices Kim Dal-sik (Presiding Justice)