Judgment :- RATNAM J. In this tax case reference under section 256(1) of the Income-tax Act, 1961, at the instance of the Revenue, the following question of law has been referred to this court for its opinion "Whether, on the facts and in the circumstances of the case, section 52(1) of the Income-tax Act, 1961, can be invoked to determine the capital gains that arose from the sale of the two buses by the assessee for the assessment year 1973-74 ?" * We find that the Appellate Assistant Commissioner, in the course of his order, has stated that there is no evidence made available by the Revenue to establish that a higher value had been received by the assessee in respect of the sale of the buses. This conclusion has not been disturbed by the Tribunal. Under those circumstances, in view of the decision reported in CIT v. Shivakami Co. P. Ltd. 1986 AIR(SC) 1691, 1986 (159) ITR 71, 1986 (1) Scale 451 , 1986 (2) SCC 418 , 1986 (1) SCR 881 , 1986 (2) UJ 96 , 1986 (2) CompLJ 233, 1986 TaxLR 900, 1986 (25) Taxman 80, 1986 (52) CTR(SC) 108 (SC), applying the principle laid down in K. P. Varghese v. ITO 1981 AIR(SC) 1922, 1981 (131) ITR 597, 1981 (3) Scale 1315 , 1981 (4) SCC 173 , 1982 (1) SCR 629 , 1981 (24) CTR 358, 1981 (7) TAXMAN 13, 1981 (3) SCALE 1315 , 1981 TaxLR 1448, 8124 CTR(SC) 358, 1981 SCC(Tax) 293, 1981 (24) CTR(SO) 358 (SC) to cases arising under section 52(1) of the Income-tax Act, 1961, the question has to be answered in the negative and against the Revenue. There will no order as to costs.