Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2016 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (12) TMI 1376 - AT - Central ExciseRefund claim u/r 5 - assessee opted to avail full exemption by filing N/N.30/2004-CE dated 09/07/2004 w.e.f. 16/03/2005. At the time of opting out, the appellant had credit of AED (TTA) of ₹ 14,73,718/- to their credit - refund claim filed placing reliance on the case of Slovak India Trading Co. Pvt. Ltd. [2006 (7) TMI 9 - KARNATAKA HIGH COURT] where it was observed that Rule 5 of the Cenvat Credit Rules, 2002 does not expressly prescribed refund of unutilized credit where there was no manufacture in the light of closure of factory. Held that: - in terms of the decision of larger bench, which has been given after examining the Decision of Hon’ble High court in case of Slovak, the respondents are not entitled to refund of accumulated credit lying in their accounts unless they are able to show that they are fulfilling the conditions prescribed u/r 5 of the Cenvat Credit Rules and the notification issued there under. The respondents have not done so - respondent not eligible for refund - appeal allowed - decided in favor of Revenue.
|