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2017 (1) TMI 415 - AT - Central ExciseRefund claim - MODVAT credit lying unutilised as on date of intimation of closure in February 2007 - time limitation - failure to furnish documents in original - Held that: - The absence of a provision for refund also implies the absence of a mechanism for processing a refund claim. The safeguards, conditions and limitations that are specified in a mechanism designed for the specifically permitted situation of refunds may not necessarily apply to the situation of a manufacturer who closes the factory of production. It could also well lead to claims by functioning undertakings which would throw the entire scheme into disarray. The Larger Bench has adduced to the lack of statutory provision for grant of refund of credit lying unutilized at the time of closure of a factory. I have referred also to the lack of safeguards, conditions and limitations to handle such eventuality and to which all refund claims are, necessarily, subject. Refund disallowed - appeal dismissed - decided against appellant.
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