The case holding that the property does not fall under the case of property as a price with a very low price prescribed in Article 34-2 of the Inheritance Tax Act.

The purchase of the value per share at the time of purchase of shares of KRW 1,200 shall not apply to the case where the property is transferred in consideration of the significantly low value as provided in Article 34-2 of the Inheritance Tax Act.

Article 34-2 of the Inheritance Tax Act

Supreme Court Decision 73Nu6 delivered on March 13, 1973

Plaintiff

The litigation performers of the Namsan District Office and the virtue thereof;

Seoul High Court Decision 76Gu241 delivered on July 26, 1977

The appeal shall be dismissed. The costs of appeal shall be borne by the defendant.

The grounds of appeal by the defendant shall be examined.

The original judgment was rendered on March 15, 1973 that the plaintiff purchased 500 won per share of 15,00 won and 15,000 won per share of the non-listed company against the non-party who was owned by the non-party 1 on March 15, 1973, and that the defendant purchased 1,200 won per share of 1,74 won and then purchased 1,200 won per share of the above shares at the time when the plaintiff purchased the above shares at 1,74 won shall be assessed as 1,74 won, and the above shares shall not be deemed to have been transferred with 30 won per share of the above shares at 1,744 won under Article 34-2 of the Inheritance Tax Act, and it shall not be deemed that the above acquisition price and the defendant's total value of shares shall not be deemed to have been donated to the plaintiff as 160 won under the above original judgment's 196th judgment.

Therefore, the Defendant’s appeal of objection is without merit, and therefore, it is dismissed in accordance with the provisions of Article 14 of the Administrative Litigation Act, Articles 400, 395, and 384(1) of the Civil Procedure Act, and Articles 95 and 89 of the same Act as to the bearing of litigation costs. It is so decided as per Disposition by the assent of all participating judges.

Justices Min Jae-chul (Presiding Justice)