Whether the interest on the loan constitutes necessary expenses that can be deducted from the transfer value when calculating the gains on transfer (psychological rejection)

Interest on borrowings shall not be the necessary expenses deducted from the transfer value.

Article 96 of the Income Tax Act

The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

In comparison with the records of this case and the judgment of the court below, the allegation in the grounds of appeal cannot be accepted in accordance with Article 4 of the Act on Special Cases Concerning the Procedure for Appeal.

Therefore, the appeal is dismissed in accordance with Article 5 of the Act, 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.