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The judgment below
The part against the defendant is reversed, and that part of the case is remanded to Busan High Court.
Reasons
The grounds of appeal are examined.
1. Article 41-3(1) of the former Inheritance Tax and Gift Tax Act (amended by Act No. 9916, Jan. 1, 2010; hereinafter “former Inheritance Tax Act”) provides that in cases where a person having a special relationship with the largest shareholder, etc. receives a donation of stocks of the relevant corporation from, or acquires a compensation for, the largest shareholder, etc., or where the relevant stocks, etc. are listed on the securities market or the KOSDAQ within five years from the date of donation or acquisition, and where the value of the relevant stocks, etc. has increased as a result of listing them on the relevant securities market or the KOSDAQ, if a person who received a donation or a compensation for the relevant stocks, etc. has acquired a certain profit in excess of the initial taxable amount of gift taxes or acquisition value, the acquisition of stocks, etc. shall be deemed the value of property donated to the person who
Article 41-3(1) of the former Inheritance and Gift Tax Act aims to promote tax equality by imposing gift tax on the gratuitous transfer of the transferred property predicted at the time of donation or transfer by making the listed gains of unlisted stocks listed as the value of property, and thus, the “new stocks” under Article 41-3(6) of the former Inheritance and Gift Tax Act shall be deemed to include not only the free new stocks based on the original donation or transfer stocks, but also the paid new stocks based thereon.
In addition, Article 47-2 of the former Framework Act on National Taxes (amended by Act No. 9911, Jan. 1, 2010; hereinafter the same) provides that when a taxpayer fails to file a tax base return within the statutory due date of return, an additional tax shall be levied on him/her; and Article 47-3 provides that when a taxpayer files a tax base return within the statutory due date of return and the tax base reported falls short of the tax base to