https://www.taxtmi.com/caselaws?id=54930 Unutilised Cenvat credit lying in the assessee's account on closure of the factory was held refundable in cash. The Tribunal followed its consistent view that where an assessee exits the Modvat scheme or the unit is closed, accumulated credit does not lapse and cash refund is admissible. Rejection of the refund claim solely on the ground that no specific provision authorised cash refund was found unsustainable. The refund claim was therefore allowed and the impugned order set aside in favour of the assessee. en-us Tue, 09 Aug 2005 00:00:00 +0530 Fri, 22 Oct 2010 17:52:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54930 Unutilised Cenvat credit lying in the assessee's account on closure of the factory was held refundable in cash. The Tribunal followed its consistent view that where an assessee exits the Modvat scheme or the unit is closed, accumulated credit does not lapse and cash refund is admissible. Rejection of the refund claim solely on the ground that no specific provision authorised cash refund was found unsustainable. The refund claim was therefore allowed and the impugned order set aside in favour of the assessee. Case-Laws Central Excise Tue, 09 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54930