2017 (12) TMI 141

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....: whether the Appellants are entitled to cash refund of the unutilized CENVAT credit availed on various capital goods lying in balance as on the date 30.3.2009 under Rule 5 of CENVAT Credit Rules, 2004 since the Appellants had adopted the benefit of Notification No.30/2004-CE dated 9.7.2004, and later the factory was closed. 3. Ld. Advocate for the Appellants submits that they are not in a position to utilize the CENVAT credit availed on capital goods, remained unutilized, due to switching over to exemption and later closure of their factory. Therefore, the credit availed on the capital goods should be refunded in cash. In support, he refers to the decision of the Tribunal in the case of Shalu Synthetics Pvt. Ltd. Vs. C.C.E. & S.T., Vapi....

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....s for refund of Modvat credit as has been rightly pleaded by Revenue and present reference is neither the case of "otherwise due" of the refund nor the case of exported goods. Similarly absence of express grant in statute does not imply ipso facto entitlement to refund. So also absence of express grant is an implied bar for refund. When right to refund does not accrue under law, claim thereof is inconceivable. Therefore, present reference is to be answered negatively and in favour of Revenue since refund of unutilized credit is only permissible in case of export of goods and for no other reason whatsoever that may be. As has been stated earlier that equity, justice and good conscience are the guiding factors for Civil Courts, no fiscal Cour....