https://www.taxtmi.com/caselaws?id=78657 Unutilised Cenvat credit was held refundable where final products later became exempt and the factory subsequently closed. The credit had been validly taken on inputs used for dutiable clearances, and the assessee had already reversed the portion relatable to stock, work-in-process, and finished goods on the exemption date. The denial of refund on the theory that the credit had lapsed and could not be encashed was not supported on the facts. Rule 5 governed refund where adjustment was not possible, while Rule 6 and the transitional provisions were inapplicable. The credit balance was therefore refundable, and the orders rejecting refund were liable to be set aside. en-us Mon, 22 Mar 2010 00:00:00 +0530 Tue, 07 Dec 2010 12:49:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78657 Unutilised Cenvat credit was held refundable where final products later became exempt and the factory subsequently closed. The credit had been validly taken on inputs used for dutiable clearances, and the assessee had already reversed the portion relatable to stock, work-in-process, and finished goods on the exemption date. The denial of refund on the theory that the credit had lapsed and could not be encashed was not supported on the facts. Rule 5 governed refund where adjustment was not possible, while Rule 6 and the transitional provisions were inapplicable. The credit balance was therefore refundable, and the orders rejecting refund were liable to be set aside. Case-Laws Central Excise Mon, 22 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78657