In case of a disaster such as the appraised value of land in the management register of the school juristic person, the method of calculating gains on transfer;

The property management ledger of a school juristic person is a ledger to investigate and reproduce the appraised value of basic property for profit of a school juristic person, and if the actual acquisition value is recognized as not the actual acquisition value but the current base value, if it is impossible to identify the actual acquisition value, it shall be calculated based on the current base value of both the acquisition value and the transfer value.

Article 23 of the Income Tax Act, Article 170 of its Enforcement Decree

Supreme Court Decision 82Nu282 Delivered on November 22, 1983

Attorney Jeon Jong-chul et al., Counsel for the defendant

Head of the Southern Mine District Office

Gwangju High Court Decision 83Gu2 delivered on June 14, 1983

The appeal is dismissed.

The costs of appeal shall be borne by the defendant.

The grounds of appeal are examined.

Examining the record, the court below recognized that the value of the land of this case recorded in the register of Jeonnam-do Board of Education, a supervisory authority, is not the value of actual acquisition of the land of this case but the current base value around April 197, in order to supervise whether the school juristic person of this case has property necessary for the operation of a private school, the value of the land of this case recorded in the register of this case in order to investigate, etc. the appraised value of basic property for profit of the school juristic person, and therefore, in the case where the actual acquisition value of the land of this case is unclear, the same standard market value should be calculated (see Supreme Court Decision 82Nu282, Nov. 22, 1983).

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

Justices Lee Chang-chul (Presiding Justice)