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2015 (2) TMI 131 - AT - Central ExciseCash refund of unutilized CENVAT Credit - Surrender of excise registration - Held that:- There is no dispute about the fact that the appellants discharged their duty liability during the period 2006-2007 to 2009-2010 either by way of payment through Cenvat credit or also by way of cash. This might have resulted in accumulation of Cenvat credit. However, the payments made towards the duty in cash, were proper and appropriated payment at that point of time. The assessment in respect of same also stand finalized. As such, at the end of the day, when the appellant is closing its factory, it has claimed refund of payment made in cash during preceding financial year on the ground that the same should be adjusted against the available credit at the time of closure of the factory. First of all, we are not aware as to whether such credit was also available at the relevant time when the appellants made the payment in cash. Secondly, the appellants having made the payments in cash without any protest, even when there was credit available at the relevant time, cannot be allowed to take U turn at the end of closure of their factory. And thirdly, the assessment having been finalized cannot be opened after a period of 4 to 5 years so as to allow the assessee to make a claim of adjustment of cash payment with the credit available. I also find that Tribunal in the case of Swaran Steel Industries v. CCE, Chandigarh reported as [2009 (1) TMI 623 - CESTAT, NEW DELHI] has held that there is no provision for cash refund of the unutilized Cenvat credit at the time of surrender of registration certificate on closure of unit. - Decided against assessee.
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