The petitioner, Nuwood Pvt. Ltd., is engaged in the manufacture and sale of duplicating machines under the collaboration agreement with Boger Duplomat Apparate KG, West Germany. The duplicating machines manufactured by the petitioner are classified as office equipments for the purposes of Central Excises and Salt Act, 1944 (hereinafter referred to as the Act). In accordance with the provisions of the Act, the petitioner submitted a price-list for the equipment manufactured by it for the purpose of computation of excise duty payable thereon. The Assistant Collector of Central Excise, Madras by his order dated 25-9-1975 provisionally approved the price-list submitted by the petitioner and allowed clearance of the manufactured goods on payment of excise duty on the basis of the price list provisionally approved. Thereafter, on 18-12-1975 the Assistant Collector of Central Excise, Madras issued proceedings C-V/33, D/17-3-1975. By the said proceedings, the Assistant Collector fixed the value of the goods manufactured by the petitioner under Section 4 of the Act. The value so fixed was to take effect from 1-10-1974. By the said proceedings, the provisional approval accorded t