Amendment of section 45.

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..... g any previous year any amount under a unit linked insurance policy, to which exemption under clause (10D) of section 10 does not apply on account of the applicability of the fourth and fifth proviso thereof, including the amount allocated by way of bonus on such policy, then, any profits or gains arising from receipt of such amount by such person shall be chargeable to income-tax under the head .....

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..... ar in which such money or capital asset or both were received by the specified person, and notwithstanding anything to the contrary contained in this Act, such profits or gains shall be determined in accordance with the following formula, namely:- A = B+C-D Where, A = income chargeable to income-tax under this sub-section as income of the specified entity under the head Capital gains ; .....

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..... due to revaluation of any asset or due to self-generated goodwill or any other self-generated asset. Explanation 1. For the purposes of this sub-section,- (i) the expressions reconstitution of the specified entity , specified entity and specified person shall have the meanings respectively assigned to them in section 9B; (ii) self-generated goodwill and self-generated asset m .....

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