TMI Blog2016 (1) TMI 1318X X X X Extracts X X X X X X X X Extracts X X X X ..... ds - refund not allowed - appeal dismissed - decided against appellant. - E/867/2008, E/1213/2008 - A/10069-10070/2016 - Dated:- 28-1-2016 - P. K. Das (Judicial Member) And P. M. Saleem (Technical Member) For the Assessee : Mukund Chauhan, Advocate For the Revenue : J. Nagori, Authorised Representative ORDER P. K. Das (Judicial Member) Common issue involved in these appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sel on behalf of the appellants submits that the issue involved in this case is covered by the decision of the Honble Karnataka High Court in the case of Union of India Vs Solvak India Trading Co Pvt Ltd 2006(201)ELT.559 (Kar.) which was upheld by the Honble Supreme Court as reported in 2008(223)ELT.A170(SC). He further submits that the Division Bench of the Tribunal in the case of Raymonds Ltd vs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppreciation of the case, we reproduce the relevant portion in the case of Modipon Ltd (supra) as under: 6. We have considered the submissions from both the sides and perused the records. There is no dispute that the appellants factory stopped production sometime in June, 2007 and at that time there was Cenvat credit balance of ₹ 2,35,86,612/- in their RG 23A Part-I and RT-23C pt. II acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ny Rules made thereunder for cash refund of accumulated Cenvat Credit Rules, 2004. When a factory closes down, the Cenvat credit lying unutilized in its Cenvat credit account would lapse, unless the factory resumes production. In the event of the factory being taken over by another person, and resuming production, Rule 10 permits the transfer of Cenvat credit to the new owner subject to certain co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he above conditions are satisfied. Therefore, the Commissioner (Appeals) has rightly upheld the rejection of the cash refund of the accumulated credit. We are supported in our view of the Larger Bench judgment of the Tribunal in the case of Steel Strips (supra). 5. In the present case, we find that the refund of the unutilised Cenvat Credit is not arising out of the export of the goods. Hence, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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