Is a seller obligated to accept return on item that was damaged during shipping?

I sold a laptop via Ebay, the laptop was in basically amazing condition, nothing wrong with it. The seller claims it was dented via shipping. A UPS claim has been started and UPS will inspect the package at buyer site. Buyer claims it was due to my packaging that the item was dented. This is BS as I wrapped the hell out of the laptop with bubble wrap and put it in a box with cushion. It is still possible UPS will not pay for damages. Buyer said if they do not, he wants a full refund after sending item back. On my auction I put no refunds are accepted. As a seller, am I obligated to accept returns or can I deny I will do so? If a case is created through paypal will the buyer win? Anyone with past experiences that can comment would be appreciated.