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Appellant Seeks Refund of CENVAT Credit Reversed Post-Audit, Claims It Was a Deposit, No Initial Protest Made.
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....Refund of CENVAT Credit - As audit team raised the objection, the appellant reversed the said amount, the matter ends. Later on, after almost three years they filed refund claim saying that the said amount is to treated as deposit as they were not required to pay said amount. There is no judicial pronouncement on the issue whether they were required to reverse the Cenvat credit or not and they have not made any protest that they are not required to reverse the amount. - AT....