#Section 43

The Supreme Court held that under Sections 46 and 48 of the Partnership Act, an outgoing partner in a partnership at will is entitled to the value of their share as on the date of liquidation of assets, not the date of dissolution. This ensures partners receive the benefit of any appreciation in asset value during the winding-up period.

Bombay High Court rules that revocation of land sale permission under Section 43 of the Maharashtra Tenancy and Agricultural Lands Act is invalid if non-disclosure of pending litigation is not treated as a material condition under Rule 25-C. The court restored sale and mutation entries after 11 years, emphasizing procedural fairness in administrative actions affecting property rights.