https://www.taxtmi.com/caselaws?id=770366 CESTAT Chennai dismissed the appeal for refund of unutilized cenvat credit upon factory closure. The tribunal held that Section 11B(2)(c) and (d) do not provide for refund of accumulated cenvat credit on closure of factory operations. Rule 5 of Cenvat Credit Rules, 2004 permits refund only in export cases, not for closure of manufacturing operations. The appellant failed to rebut the presumption of unjust enrichment regarding inputs and capital goods treatment at closure. The tribunal rejected arguments that absence of express prohibition allows refund, emphasizing that statutory provisions must be interpreted as written without equitable considerations. Despite financial hardship claims, refund is only permissible as per statutory mandate, not through implied permissions from regulatory silence. en-us Tue, 06 May 2025 00:00:00 +0530 Wed, 07 May 2025 12:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770366 CESTAT Chennai dismissed the appeal for refund of unutilized cenvat credit upon factory closure. The tribunal held that Section 11B(2)(c) and (d) do not provide for refund of accumulated cenvat credit on closure of factory operations. Rule 5 of Cenvat Credit Rules, 2004 permits refund only in export cases, not for closure of manufacturing operations. The appellant failed to rebut the presumption of unjust enrichment regarding inputs and capital goods treatment at closure. The tribunal rejected arguments that absence of express prohibition allows refund, emphasizing that statutory provisions must be interpreted as written without equitable considerations. Despite financial hardship claims, refund is only permissible as per statutory mandate, not through implied permissions from regulatory silence. Case-Laws Central Excise Tue, 06 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770366