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2013 (11) TMI 627 - AT - Central ExciseStay of Refund - Refund claim under rule 5 of CENVAT Credit Rules, 2004 – unable to utilize the credit on account of closure of their factory - Revenue was of the view that there is no provision in law to allow such refund in cash on the ground that the factory is closed – Relying upon Steel Strips vs. CCE, Ludhiana [2011 (5) TMI 111 - CESTAT, NEW DELHI] – Held that:- The refund has not been sanctioned yet – Thus, at this interim stage the status quo should be maintained till the final disposal of the appeal - stay to the refund granted – Decided in favour of Revenue.
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