Factory Closure Allows CENVAT Credit Refund in Cash; No Limitation Period for Claims, Affirms Third Member Bench Decision.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Refund of unutilised CENVAT credit on closure of factory in the form of cash - since the accumulated cenvat balance lying in the books was claimed as refund, in my considered view, it cannot be said that such claim is barred by limitation of time. In other words, availment of cenvat credit is an indefeasible right of an assessee and such right conferred under the statue cannot be taken away on the ground of limitation. - Third Member Bench decision - Refund allowed - AT....