https://www.taxtmi.com/caselaws?id=457 Cash refund of Modvat credit on capital goods was treated as admissible where the assessee had closed its unit, surrendered Central Excise registration, and could no longer take re-credit. The Tribunal reasoned that factual inability to utilise the credit, arising from circumstances beyond the assessee's control, governed the claim, and that Rule 57S(3) of the Central Excise Rules, 1944 did not exclude refund in such a situation. The order allowing refund was upheld on the basis that the credit amount could be returned in cash when re-credit was no longer practically available. en-us Wed, 14 Dec 2005 00:00:00 +0530 Sun, 13 Apr 2008 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457 Cash refund of Modvat credit on capital goods was treated as admissible where the assessee had closed its unit, surrendered Central Excise registration, and could no longer take re-credit. The Tribunal reasoned that factual inability to utilise the credit, arising from circumstances beyond the assessee's control, governed the claim, and that Rule 57S(3) of the Central Excise Rules, 1944 did not exclude refund in such a situation. The order allowing refund was upheld on the basis that the credit amount could be returned in cash when re-credit was no longer practically available. Case-Laws Central Excise Wed, 14 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457