TMI Blog2015 (10) TMI 1326X X X X Extracts X X X X X X X X Extracts X X X X ..... ovak India Trading Co. Pvt. Ltd. (2006 (7) TMI 9 - HIGH COURT OF KARNATAKA (BANGALORE)) but have not discussed the said decision. That decision is not applicable to the facts of case of Slovak India Trading Co. Pvt. Ltd. Further, I find that the decision of Hon’ble Karnataka High Court shall prevail over the decision of the Tribunal. In these circumstances, following the decision of Hon’ble Karnat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Excise Act, 1944. 2. Ld. AR has relied on the Larger Bench decision of the Tribunal in the case of Steel Strips v. C.C.E., Ludhiana - 2011 (269) E.L.T. 257 (Tri.- LB) = 2012(26) S.T.R. 270 (Tribunal - LB), this Tribunal has held that there is no provision under Rule 5 of Cenvat Credit Rules, 2004 to allow refund lying unutilized in Cenvat account on closure of the factory. 3. On the other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is entitled for refund even if it goes out of Modvat Scheme or Company is closed? 4. Hon ble Karnataka High Court in para 5 of its judgment has held as under :- There is no express prohibition in terms of Rule 5. Even otherwise, it refers to a manufacture as we see from Rule 5 itself. Admittedly in the case on hand, there is no manufacture in the light of closure of the Company. Therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k India Trading Co. Pvt. Ltd. Further, I find that the decision of Hon ble Karnataka High Court shall prevail over the decision of the Tribunal. In these circumstances, following the decision of Hon ble Karnataka High Court in Slovak India Trading Co. Pvt. Ltd. (supra), I hold that the respondent is entitled to get refund lying unutilized in their Cenvat credit account on the closure of their fact ..... X X X X Extracts X X X X X X X X Extracts X X X X
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