Revised price list approval relates back to filing date and governs intervening clearances under excise valuation rules.

A revised price list under Rule 173C(vi) that genuinely reduces assessable value is effective from the date of filing when later approved on identical facts, because the approval relates back rather than postponing operation until formal sanction. The Tribunal applied its earlier view that such approval confirms the revised list and governs clearances made in the intervening period before approval. On that basis, the revised assessable value applied from 2 March 1992, and the Revenue's challenge failed.

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Issues: Whether the revised price list reducing assessable value, filed on 2-3-1992, took effect from the date of filing or only from the date of approval by the proper officer.

Analysis: The dispute turned on the effect of approval of a revised price list under Rule 173C(vi) where the revision did not alter the wholesale price but only reduced assessable value because of the increase in Special Excise Duty. The Tribunal followed its earlier decisions holding that, on identical facts, approval of the revised price list relates back to the date of filing and applies to clearances made in the intervening period. The cited reasoning treated the subsequent approval as confirming the revised list rather than postponing its operation until the date of approval.

Conclusion: The revised price list was effective from the date of filing and not merely from the date of approval; the Revenue's appeal failed.

Ratio Decidendi: Where a revised price list is genuinely filed and later approved on identical facts, the approval relates back to the date of filing and governs clearances made before formal approval.

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