De Novo Info

Courtesy: ipleaders.in Utkarsh Agarwal If there is something that has caused much of the nuisance in this world, although lesser than the pandemic, then it should be this nasty thing called "double Irish Dutch Sandwich". And no matter how many countries embrace communism (the chances of which are very thin), the difference between rich and poor will always get wider. What is it anyway? Let's find out. What is Double Irish with A Dutch Sandwich? It is a tax avoidance mechanism adopted by various Multi National Companies. The name is derived from setting up of two subsidiary companies in Ireland and another in Netherlands. The Irish tax mechanism mandates that a company can be a resident from the place of management rather than the place of incorporation if the company controlling it resides in a country that has double tax treaty with Ireland. Hence, Subsidiary 1 will have its place of management in pure Tax Haven (like Mauritius). An MNC in India transfers intellectual pr...

  The case concerns 28 U.S.C ss. 2241 & 2254  and Sixth amendment. Author: Utkarsh Agarwal, JMI Facts: In 2009, Sean Wright was convicted of committing sexual abuse of a minor 13 times, by an Alaska jury. Wright finished his sentence in 2016 and thereafter moved to Tenessee. However, he failed to register himself as a sex offender as is required by federal law. Sex offender Registration and Notification Act, 120 Stat. 591, section 113 (a) requires a sexual offender to register themselves with the jurisdiction of their residence, where they are an employee ad where they are a student. However, any such failure is punishable with a maximum jail term of 10 years. Wright pleaded guilty for his failure to register and as a result, was sentenced to the term served along with the supervised release of 5 years.  While his federal proceedings were in the process, Wright filed a writ of habeas corpus in the US District Court for the District of Alaska under  28 U.S.C ...

  UTKARSH AGARWAL, JMI COVID-19 pandemic has put forward unprecedented challenges and naturally, fiscal deficit for the government. However, the void has been filled by a massive surplus given by RBI to the government i.e. Rs 99,122 cr as a surplus. However, now the contingency risk buffer is set at 5.50% only. We shall look into the issue in detail. What is surplus? Every year RBI transfers surplus from its revenue to the government in the form of dividend tax-free. In the financial year 2019-2020, a surplus of Rs 57,128 cr was transferred by RBI to the government. However, this year, with a slight change, the surplus amount is accounted only for 9 months due to shifting from the financial year to April-March from the earlier July-June.      RBI earns its revenue from the following functions: It manages the borrowing of the central government and state governments(s). it regulates & supervises banks and NBFCs It manages the currency and payment system. It claims...