https://www.taxtmi.com/caselaws?id=410111 The appellant's refund application for unutilized Cenvat Credit upon the closure of their factory was initially rejected by the Adjudicating Authority. However, following appeals, the Karnataka High Court and later the Supreme Court ruled in favor of the appellant. The courts emphasized that Rule 5 of the Cenvat Credit Rules did not apply in cases of factory closure, allowing the appellant's refund claim. The Tribunal ultimately granted the refund with interest, in line with the higher courts' decisions, establishing the entitlement to refund upon closure of business. en-us Fri, 23 Jul 2021 00:00:00 +0530 Sat, 24 Jul 2021 09:14:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410111 The appellant's refund application for unutilized Cenvat Credit upon the closure of their factory was initially rejected by the Adjudicating Authority. However, following appeals, the Karnataka High Court and later the Supreme Court ruled in favor of the appellant. The courts emphasized that Rule 5 of the Cenvat Credit Rules did not apply in cases of factory closure, allowing the appellant's refund claim. The Tribunal ultimately granted the refund with interest, in line with the higher courts' decisions, establishing the entitlement to refund upon closure of business. Case-Laws Central Excise Fri, 23 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410111