1. The defendant's appeal is dismissed.

2. The costs of appeal shall be borne by the Defendant.

Purport of claim and appeal

1...

1. The reasoning of the court's explanation concerning this case is as follows: Article 8 (2) of the Administrative Litigation Act and the main text of Article 420 of the Civil Procedure Act are as follows: Article 8 (2) of the Administrative Litigation Act and the main text of Article 420 of the Civil Procedure Act are as follows: Article 8 (2) of the Administrative Litigation Act and the main text of Article 420 of the Civil Procedure Act.

2. The addition;

A. According to Article 40(1) of the Corporate Tax Act, the business year of accrual of earnings and losses for each business year of a corporation shall be the business year which includes the date on which the concerned earnings and losses are determined, which shall apply mutatis mutandis to a foreign corporation pursuant to Article 92(1) of the Corporate Tax Act.

The difference between the acquisition price and the market price when the Plaintiff accepts ELW from the issuer and sells it first to investors is offset with the profits and losses caused by over-the-counter derivatives transaction, and thus it cannot be said that it is not feasible or highly mature in terms of its feasibility. Thus, it cannot be said that it was determined as losses for the pertinent business year.

Therefore, the measure that the Defendant did not include the loss recognized by accepting and selling the ELW, the maturity of which is not due for the pertinent business year, is legitimate.

B. Article 40(1) of the Corporate Tax Act provides that “The fiscal year of accrual of earnings and losses of a domestic corporation for each fiscal year shall be the fiscal year which includes the date on which the concerned earnings and losses are settled,” thereby adopting the principle of confirmation of rights and obligations concerning the period of accrual of profits and losses

On the other hand, Article 40 (2) of the same Act shall apply to necessary matters concerning the scope of the business year of accrual of earnings and losses under the provisions of paragraph (1).