gain on mutual fund ??

Switing over from one scheme to another scheme of mutual fund requires recognision gain for tax and accounting purpose ?

                       Suppose i invested Rs. 100 in growth oriented mutual fund on 01.01.2010 and later on in Dec 2010 i switch over from this scheme to weekly dividend oriented mutual fund scheme. On Dec 2010 my NAV was 110. whether i have to recognise the gain of Rs. 10 (110-100) for accounting & tax purpose .

and also please suggest accounting treatment  in case where no reserve was created for unrealised gain on mutual fund.

With Warm Regards

M.s.Kabra