https://www.taxtmi.com/caselaws?id=248439 Accumulated CENVAT credit remaining unutilized on closure of the factory and surrender of registration was treated as refundable, because the Central Excise framework contained no express or implied bar against such refund. The claim could not be rejected merely on the basis that Section 11B of the Central Excise Act did not specifically provide for return of the balance credit. The reasoning also applied the principle that binding jurisdictional High Court decisions must prevail over a conflicting Larger Bench view relied on by the department. On that basis, refund of the accumulated credit on closure of the unit was allowed. en-us Tue, 10 Jun 2014 00:00:00 +0530 Tue, 04 Apr 2017 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248439 Accumulated CENVAT credit remaining unutilized on closure of the factory and surrender of registration was treated as refundable, because the Central Excise framework contained no express or implied bar against such refund. The claim could not be rejected merely on the basis that Section 11B of the Central Excise Act did not specifically provide for return of the balance credit. The reasoning also applied the principle that binding jurisdictional High Court decisions must prevail over a conflicting Larger Bench view relied on by the department. On that basis, refund of the accumulated credit on closure of the unit was allowed. Case-Laws Central Excise Tue, 10 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248439