When the former Enforcement Decree of the Income Tax Act (amended by the Presidential Decree No. 12767 of Aug. 1, 1989), the method of calculating gains on transfer of real estate which is located in a specific area at the time of acquisition shall be

The purpose of Article 115 of the former Enforcement Decree of the Income Tax Act (amended by Presidential Decree No. 12767 of Aug. 1, 1989) is to determine the acquisition value in a specific area at the time of transfer for assets not falling under a specific area but not falling under a specific area. Thus, in case of land and buildings located in a specific area determined by the Commissioner of the National Tax Service at the time of transfer under the above provision, which are not a specific area at the time of acquisition, the standard market value at the time of transfer shall be calculated by the value according to the multiple factor method under Article 115(1) and (2) of the Enforcement Decree of the Income Tax Act, and the standard market value at the time of acquisition shall be calculated by

Articles 23 and 45 of the Income Tax Act; Article 115 of the former Enforcement Decree of the Income Tax Act (amended by the Presidential Decree No. 12767 of Aug. 1, 1989)

[Plaintiff-Appellant] Plaintiff 1 and 2 others (Law Firm Gyeong, Attorneys Park Jae-soo et al., Counsel for plaintiff-appellant)

Attorney Jeon Jong-gu, Counsel for the defendant-appellant

Head of the Cleanness Tax Office

Seoul High Court Decision 89Gu6543 delivered on January 30, 1990

The appeal is dismissed.

The costs of appeal are assessed against the plaintiff.

We examine the grounds of appeal.

Article 115 of the former Enforcement Decree of the Income Tax Act (amended by Presidential Decree No. 12767, Aug. 1, 1989; hereinafter the same applies) provides for the general matters concerning the determination of the standard market price at the time of transfer pursuant to delegation of Article 60 (1) and (2) of the Income Tax Act, and provides for a specific area at the time of transfer at the time of transfer at paragraph (3) of the same Article, only the method for determining the standard market price at the time of the acquisition of assets without the rate, shall be delegated to the Ordinance of the Ministry of Finance and Economy, and shall be determined by the conversion method as prescribed by the Ordinance of the Ministry of Finance and Economy. The purpose of this provision is to determine the acquisition price at the time of transfer of assets, not only a specific area but also a specific area at the time of transfer, so if the land and building located in a specific area at the time of the acquisition at the time of transfer at the time of transfer under the above provision, the standard market price at the time of transfer shall be calculated at the price calculated by the rate under Article 1115 (28).

The judgment of the court below to the same purport is correct and cannot be accepted as the argument of attacking the judgment of the court below in its dissenting opinion. The precedents cited by the theory of lawsuit are related to the interpretation of Article 115 of the Enforcement Decree of the Income Tax Act before the above Enforcement Decree of the Income Tax Act was amended by May 8, 1987,

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

Justices Lee Chang-chul (Presiding Justice)