Where a land for replotting which differs from the statutory Dong is transferred, the ratio applied to the appraisal of the standard land price for calculating gains on transfer (=ratio prescribed for the statutory Dong to which the land for replotting belongs)

Where a certain land is designated as a reserved land for replotting, the owner shall lose his right to use and benefit from the previous land, acquire the right to use and benefit from the land as the owner of the land to be reserved land, and if the replotting becomes final and conclusive, the ownership of the land to be reserved land shall be acquired in lieu of the previous land. Thus, when the land is designated as the object of the sale in the state of the reserved land for replotting, the location and route of the previous land shall not be considered, but the sale price shall be determined by the standard market price at the time of acquisition or transfer in order to calculate gains on transfer, as common, not based on the previous land, in assessing the standard market price at the time of acquisition or transfer in order to calculate gains on transfer. In a case where a land with different statutory Dongs is designated as a reserved land for replotting, the ratio applied to assessing the standard land price to the statutory Dong to which the land belongs, accords with

Articles 23 and 45 of the Income Tax Act, Article 115 (2) of the Enforcement Decree of the Income Tax Act, Article 57 of the Land Readjustment Projects Act

Attorney Cho Chang-jin et al., Counsel for the defendant-appellant

Head of Seocho Tax Office

Seoul High Court Decision 88Gu8649 delivered on December 26, 1989

The appeal is dismissed.

The costs of appeal shall be borne by the defendant.

As to the Grounds of Appeal:

According to the original judgment, on July 18, 1975, 200 square meters before 23-25, Gangdong-gu Seoul Special Metropolitan City's new land substitution rate, the court below held that the previous land substitution rate should be determined based on the standard market price of the previous land substitution rate which is determined by the new land substitution rate, not on February 23, 1983, on the premise that the previous land substitution rate should be determined based on the standard market price of the previous land substitution rate, and that it should be determined based on the new land substitution rate which is determined by Article 115 (1) 1 of the Enforcement Decree (amended by Presidential Decree No. 1267, Aug. 12, 1989). The court below's decision that the previous land substitution rate should be determined based on the standard market price of the previous land substitution rate which is determined by the new land substitution rate, in order to use and benefit from the new land substitution rate which belongs to the previous land substitution rate.

Therefore, the appeal is dismissed. It is so decided as per Disposition by the assent of all participating Justices.

Justices Kim Yong-ju (Presiding Justice)