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2016 (11) TMI 777 - AT - Central ExciseRefund claim - unutilized cenvat credit of ₹ 10,37,599/- lying in cenvat credit account - closure of factory - Held that: - the issue in hand is squarely covered by the judgments cited and relied upon by the Revenue in the case of Steel Strips Vs. C.CE., Ludhiana [2011 (5) TMI 111 - CESTAT, NEW DELHI] where it was held that Law has only recognized the event of export of goods for refund of Modvat credit, as has been rightly pleaded by revenue and present reference is neither the case of "otherwise due" of the refund nor the case of exported goods. Similarly, absence of express grant in statute does not imply ipso facto entitlement to refund. So also absence of express grant is an implied bar for refund. When right to refund does not accrue under law, claim thereof is inconceivable The appellants are not entitled to refund in cash of the cenvat credit lying unutilized in their books of account - appeal dismissed.
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