M/S.Radhika Steel Industries vs Cce, Chandigarh on 26 August, 2011
7. First of all, we are not aware as to whether such credit was also available at the relevant time when the appellants made the payment in cash. Secondly, the appellants having made the payments in cash without any protest, even when there was credit available at the relevant time, cannot be allowed to take U turn at the end of closure of their factory. And thirdly, the assessment having been finalized cannot be opened after a period of 4 to 5 years so as to allow the assessee to make a claim of adjustment of cash payment with the credit available. I also find that Tribunal in the case of Swaran Steel Industries vs CCE, Chandigarh reported as [2009 (245) ELT 483 (Tri-Del)] has held that there is no provision for cash refund of the unutilized Cenvat credit at the time of surrender of registration certificate on closure of unit.