Hi, I purchased a theme on ThemeForest but due to any reason, it was refunded later. Now I have $40 in my wallet. Can I use them to purchase anything on codecanyon? as both are owned by envato?
Yes that will work. Just make sure to choose the option to use the credits at checkout.
I wil do that too.
I have received a refund of a purchase recently from Envato. I should be able to purchase using that credit
Hmm interesting. I’m not sure what it looks like when you have account credit as a buyer, but I imagine that it should look like this on the checkout page:
Are you certain that your account has a balance? Perhaps support mistakenly refunded it to the original payment source. Can you check your statement, or do you see the balance at the top right of the Market website?
Maybe, your payment refunded to your credit card directly instead of Envato credit.
See the Gmail screenshot above. Credits are clearly mentioned on it.
Also I never received anything in my card
From your screenshot looks like your credit has expired/forfeited. Please open an Envato Customer support Help ticket and let them know. Envato Customer support team will be happy to check it for you.
Thanks
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I know but why it got expired on same day 
Envato Customer support team can check it for you. They are the right team to check and help on it. Thanks
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