(1) The provisions concerning the non-taxation of income tax on any capital gains under this Act or other Acts shall not apply to assets transferred without registration under Article 104 (3).
(2) Where a party to a contract selling or purchasing assets defined in Article 94 (1) 1 and 2 enters transaction prices incorrectly in a contract of sale, the amount under each of the following classifications shall be subtracted from the amount of non-taxable assets or the amount for which tax has been or to be reduced or exempted, when applying the provisions concerning non-taxation, reduction or exemption of capital gains tax on the relevant assets under this Act or other Acts:
1. Where applying provisions concerning non-taxation of capital gains tax pursuant to this Act or other Acts: The smaller of the calculated capital gains tax under Article 104 (1) when provisions concerning non-taxation are not applicable, or the amount of difference between the transaction prices specified on a contract of sales and the actual transaction prices;
2. Where provisions concerning reduction or exemption of capital gains tax apply or are to apply in accordance with this Act or other Acts: The smaller of the amount of tax reduction or exemption when the provisions concerning tax reduction or exemption apply or are to apply, or the amount of difference between the transaction prices specified on a contract of sales and the actual transaction prices.[This Article Wholly Amended by Act No. 10408, Dec. 27, 2010]