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Case Number of the immediately preceding lawsuit
Seoul High Court 2011Nu42507 (Law No. 11, 2012)
Title
Value multiplied by proportional ratio at the time of approval for the management and disposal plan shall not be deemed market price.
Summary
There is no provision that the value of inherited property can be assessed by applying the proportion ratio, and the proportion ratio is merely a estimate for measuring development gains following the completion of an urban rearrangement project, and the appraisal value can not be considered as the market price by multiplying the appraisal value by the proportion at the time of the approval plan for the management
Related statutes
Appraisal of superficies Article 51 of Enforcement Decree of the Inheritance Tax and Gift Tax Act
Cases
2012Du18615 Revocation of Disposition of Imposing Inheritance Tax
Plaintiff-Appellant
IsaA
Defendant-Appellee
○ Head of tax office
Judgment of the lower court
Seoul High Court Decision 2011Nu42507 Decided July 11, 2012
Imposition of Judgment
June 12, 2014
Text
The appeal is dismissed.
The costs of appeal are assessed against the defendant.
Reasons
The grounds of appeal are examined.
1. According to Article 60(1) and (3) of the former Enforcement Decree of the Inheritance Tax and Gift Tax Act (amended by Act No. 9916, Jan. 1, 201; hereinafter referred to as the "Act"), the value of the property on which the inheritance tax is imposed shall be based on the market price as of the commencement date of the inheritance, and the circumstances where it is difficult to calculate the market price shall be based on the valuation methods prescribed in Articles 61 through 65 of the Act, considering the kinds, size and transaction circumstances of the pertinent property. Article 61(5) of the Act provides that the value of the pertinent real estate shall be appraised by the method prescribed by the Presidential Decree, considering the remaining period and nature of the right and transaction circumstances of the pertinent real estate, and the value of the pertinent real estate acquired by the Defendant cannot be determined as the valuation method of the real estate under the former Enforcement Decree of the Inheritance Tax and Gift Tax Act (amended by Presidential Decree No. 2042, Feb. 18, 2010).