(a) Purport of Article 9(1) of the former Inheritance Tax Act (amended by Act No. 3474, Dec. 31, 1981); Article 5(1) of the Enforcement Decree of the same Act (amended by Presidential Decree No. 10667, Dec. 31, 1981);

(b) This case where it was possible to calculate the market price under the current status as at the time of commencing the inheritance.

A. The purport of Article 9(1) main text of the former Inheritance Tax Act (amended by Act No. 3474 of Dec. 31, 1981) and Article 5(1) of the Enforcement Decree of the same Act (amended by Presidential Decree No. 10667 of Dec. 31, 1981) is that the value of inherited property shall, in principle, be calculated based on the market price at the time of the commencement of the inheritance, but its value may be assessed in a supplementary manner only when it is difficult to calculate the market price.

B. The Korea Appraisal Board assessed the market price at the time of commencement of inheritance by taking into account the neighboring market price, location conditions, land conditions, utility, etc. with respect to land and buildings among objects of taxation of inheritance tax, and if some of the above inherited property was leased, it is not difficult to calculate the value of the land and buildings at the time of commencement of inheritance.

Article 9(1) of the former Inheritance Tax Act (amended by Act No. 3474 of Dec. 31, 1981); Article 5(1) of the former Enforcement Decree of the Inheritance Tax Act (amended by Presidential Decree No. 10667 of Dec. 31, 1981)

Supreme Court Decision 84Nu716 Decided September 24, 1985, 85Nu244 Decided June 10, 1986, Supreme Court Decision 83Nu480 Decided January 31, 1984

[Judgment of the court below]

The director of the tax office

Seoul High Court Decision 82Gu834 delivered on December 13, 1983

The judgment below is reversed, and the case is remanded to Seoul High Court.

The grounds of appeal are examined.

According to the reasoning of the judgment below, the court below held that, with respect to land and buildings which are subject to taxation of the inheritance tax of this case, the taxation disposition that the Korea Appraisal Board reported at the market price of the appraisal value assessed as of the commencement date of inheritance after four months elapsed from the commencement date of inheritance was unlawful, and accordingly, it is reasonable to calculate the value of the inherited property according to the standard market

According to the main sentence of Article 9(1) of the Inheritance Tax Act (amended by Act No. 3474, Dec. 31, 1981) which was enforced at the time of the commencement of the inheritance in this case, the value of inherited property shall be based on the current status at the time of the commencement of the inheritance. According to the provisions of Article 5(1) of the Enforcement Decree of the same Act (amended by Presidential Decree No. 10667, Dec. 31, 1981), the value of inherited property at the time of the commencement of the inheritance in this case shall be based on the method prescribed in paragraphs (2) through (5) if it is difficult to calculate the market price at the time of the commencement of the inheritance in this case. The purport of each provision is that the value of inherited property shall be calculated based on the market price at the time of the commencement of the inheritance in this case, but it may be assessed by the supplementary method prescribed in Article 5(2) through (5) of the Enforcement Decree only when the market price is difficult (see Supreme Court Decision 84Nu716, Sept. 24

According to the records, on June 17, 1981, the Korea Appraisal Board assessed the market price of 235,730,410 won at the time of the commencement of inheritance by taking into account the neighboring market price, location conditions, land conditions, utility, etc. of the land and buildings among the objects subject to taxation of the inheritance of this case, and according to the evidence Nos. 30 through 32 (each lease contract), part of the underground room of the building on the ground of Chungcheong (location omitted) out of the inherited property was leased to 10,00,000 won for rental deposit. Thus, in light of the above series of facts, it is deemed that it was not difficult to calculate the value according to the current status at the time of the commencement of inheritance of this case concerning the land and buildings among the objects subject to taxation of this case (see Supreme Court Decision 83Nu480, Jan. 31,

Therefore, the court below should have deliberated more on the basis of the above data, and examined whether the appraisal value of the above appraiser can be seen as the market price at the time of the commencement of the inheritance on the land and buildings of this case, but it did not proceed to such measures, and determined that the market price is difficult to calculate, and that the defendant's taxation was unlawful. The court below's decision that the defendant's taxation was unlawful, but it is hard to find out that there is a violation of the rules of evidence and the legal principles of Article 9 (1) of the Inheritance Tax Act, Article 5 (1) of the Enforcement Decree of the same Act, and Article 5 (1) of the same Act, which affected the conclusion of

Therefore, the lower judgment is reversed, and the case is remanded to the lower court for further proceedings consistent with this Opinion. It is so decided as per Disposition by the assent of all participating judges.

Justices Kim Jong-sik (Presiding Justice)