TMI Blog2019 (3) TMI 759X X X X Extracts X X X X X X X X Extracts X X X X ..... port 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, clai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accumulated cenvat credit amounting to ₹ 79,39,923/-on 19.3.2009 on the ground that they had stopped production due to closure of manufacturing activities and they were not in a position to utilize the accumulated cenvat credit. The said refund claim was rejected by the adjudicating authority. Aggrieved by the said order, they filed an appeal before the Ld. Commissioner (Appeals), who in tu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... closure of the factory. Considering the principle of law and conflicting view son the subject the Larger Bench of this Tribunal in Still Strips case (supra)observed as follows: 5.16Modvat law has codified procedure for adjustment of duty liability against Modvat Account. That is required to be carried out In accordance with law and unadjusted amount is not expressly permitted to be refunded. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceivable.Therefore, present reference is to be answered negatively and in favour of Revenue since refund of unutilized credit is only permissible in case of export of goods and for no other reason whatsoever that may be. As has been stated earlier that equity, justice and good conscience are the guiding factors for Civil Courts, no fiscal Courts are governed by these concepts, the present referenc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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