Requirements for exemption from capital gains tax under Article 3-3 (5) of the former Regulation of Tax Reduction and Exemption Act (amended by Act No. 3481 of December 31, 1981)

In full view of the provisions of Article 3-3(5) of the former Regulation of Tax Reduction and Exemption Act (amended by Act No. 3481, Dec. 31, 1981); Articles 6(2), 8, and 21 of the Housing Construction Promotion Act, to be exempted from capital gains tax under the provisions of Article 3-3(5) of the former Regulation of Tax Reduction and Exemption Act, the transferred land is transferred as a site for housing construction smaller than national housing scale, and the transferee is the developer for the relevant collective housing zone designated under the provisions of Article 21 of the Housing Construction Promotion Act.

Article 3-3(5) of the former Regulation on Tax Reduction and Exemption Act (amended by Act No. 3481 of Dec. 31, 1981); Article 21 of the Housing Construction Promotion Act

[Judgment of the court below]

Head of North Daegu Tax Office

Daegu High Court Decision 85Gu319 delivered on December 12, 1986

The appeal is dismissed.

The costs of appeal are assessed against the plaintiff.

The grounds of appeal are examined.

1. As to ground of appeal No. 1

According to the reasoning of the judgment of the court below, the court below held that the court below erred in the misapprehension of the legal principles as to intermediate payment and the payment date of this case by finding out the following facts on the ground that the plaintiff and the non-party 1 and the non-party 2 were the housing construction business operator registered pursuant to the Housing Construction Promotion Act on April 1, 1980, and the above company did not receive the payment of the payment of the payment, and it did not err in the misapprehension of legal principles as to the payment date of intermediate payment and the payment of the payment of the payment of the payment of the payment of the intermediate payment to the non-party corporation 198,00,000 won in total 3,527 of five parcels of the land site were transferred to the non-party corporation 193,00,000 won in the contract to non-party 1 and the non-party 1 and the non-party 2 were the non-party 3 as the representative director of the above company and the above company did not receive the payment of the payment of the payment.

2. As to ground of appeal No. 2

In full view of the provisions of Article 3-3(5) of the former Regulation of Tax Reduction and Exemption Act (amended by Act No. 3481, Dec. 31, 1981; hereinafter the same shall apply), Articles 6(2), 8, and 21 of the Housing Construction Promotion Act, which was enforced at the time of the transfer of the land of this case, the transferred land is transferred as a house within the collective housing zone as prescribed by the Presidential Decree, that is, housing construction site below the scale of national housing, and the transferee must be the operator of the collective housing zone development project designated under Article 21 of the Housing Construction Promotion Act. The decision of the court below to the same purport is just and there is no error in the misapprehension of legal principles as to the Regulation of Tax Reduction and Exemption Act as alleged in the arguments.

3. As to the third ground for appeal:

In full view of the provisions of Article 3-3 (20) of the former Regulation of Tax Reduction and Exemption Act, Article 2-8 (2) of the Enforcement Decree of the same Act (amended by Presidential Decree No. 10670 of Dec. 31, 1981), and Article 95 of the Income Tax Act, a land transferee registered under the Housing Construction Promotion Act intends to have capital gains tax reduced or exempted pursuant to Article 3-3 (20) of the former Regulation of Tax Reduction and Exemption Act shall file an application for reduction or exemption by the end of the month following the month in which the date of transfer falls, and shall not be reduced or exempted if he fails to file an application for reduction or exemption within the above period, and the decision of the court below to that purport is just, and there is no error

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

Justices Yellow-ray (Presiding Justice)