TMI Blog2005 (8) TMI 273X X X X Extracts X X X X X X X X Extracts X X X X ..... ejecting the refund claim of Rs. 4,15,057/- with regard to the unutilized Cenvat credit in their account as on the date of closure of their factory. The Commissioner (Appeals) has taken a view that there is no provision under Rule 5 of the Cenvat Rules to grant cash refund. The learned Counsel submits that the order is not legal and proper for the reason that the grounds of rejection taken by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rant of refund in such cases. Therefore the order is correct in law. 3. On a careful consideration the submissions made by both the sides, I find that the Tribunal has consistently held that the refund claim is eligible and refund has to be made in cash when the assessee goes out of the Modvat scheme or when the company is closed. In view of these judgments, the impugned order is set aside and t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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