Seoul Administrative Court 2008Guhap5132 ( October 28, 2009)

early 208west2197 ( October 02, 2008)

Donation of profits from listing stocks or equity shares, etc.

It is reasonable to interpret that the deemed donation of donated stocks at the time of the settlement date due to listing or registration of stocks shall apply in cases where the stocks cannot be traded within a certain period.

The contents of the decision shall be the same as attached.

1. The plaintiffs' appeal is dismissed.

2. The costs of appeal are assessed against the Plaintiffs.

The decision of the court of first instance shall be revoked. The imposition of KRW 118,283,200 on the gift tax against the plaintiff senior farmer on June 2, 2008 by the head of Song-dong Tax Office, and the imposition of KRW 118,683,200 on the gift tax against the plaintiff senior farmer on April 1, 2008 by the head of Sung-dong Tax Office shall be revoked.

The reasoning for the court's explanation on this case is that Article 41-3 of the former Inheritance Tax and Gift Tax Act (amended by Act No. 6780, Dec. 18, 2002) which is deemed as a donation to a certain specially related person of profits from the listing of stocks applies to a case where the stocks acquired or donated by the former Regulations on the Operation of the Association Brokerage Market cannot be purchased or sold within a certain period like the plaintiffs, and it is difficult to reverse the judgment of the court of first instance, and therefore, it is identical to the entry of the reasons for the judgment of the court of first instance. Thus, it shall be cited as it is in accordance with Article 8 (2) of the Administrative Litigation Act,

Therefore, the judgment of the first instance court is legitimate, and the plaintiffs' appeal is dismissed. It is so decided as per Disposition.