Capital gains: receipts under non-exempt unit-linked policies and reconstitution transfers taxed as capital gains of the entity. Receipts under a unit linked insurance policy not exempt under clause (10D) shall be charged as capital gains of the recipient in the year of receipt, calculated as prescribed. Where a specified person receives money or capital assets from a specified entity on reconstitution, resulting profits or gains shall be charged as capital gains and deemed income of the specified entity in that year, determined by A = B + C - D (money received plus fair market value of assets received minus balance in the recipient's capital account), with negative results treated as zero and specified exclusions for revaluation and self-generated assets.