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【Main Issue and Holding】
Where a merger is made at an inequitable value in a merger between corporations, whether any profit that a corporation, holding stocks of the merged corporation, substantially distributed to another shareholder or any profit distributed from another shareholder that the corporation has exists by collectively calculating any loss incurred as a shareholder of the merged corporation whose stock price is undervalued and any profit accrued as a shareholder of the merged corporation whose stock price is overvalued should be clarified, and then, according to the results, whether either of the provisions on repudiation of wrongful calculation stipulated in Article 52(1) of the former Corporate Tax Act and Articles 88(1)8(a) of the former Enforcement Decree of the Corporate Tax Act and the provisions on gross income in accordance with Article 15(1) of the former Corporate Tax Act and Article 11 Subparag. 9 of the former Enforcement Decree of the Corporate Tax Act should be applied (affirmative)
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