https://www.taxtmi.com/caselaws?id=470144 Periodic Bantan adjustments in a partnership are described as prima facie bases for accounting, rather than conclusive settlements: a party challenging an adjustment at the annual Nikash must establish error. In a partnership without a fixed term, dissolution requires communication of notice to the other partners; continued participation in the business may support continuance. A partner conducting, without consent, a competing business of the same nature must account to the firm for all resulting profits, and a stipulated penalty does not replace that obligation. Account-book production should be addressed during the accounting inquiry, with adverse evidentiary consequences potentially arising after proper notice and non-production. en-us Wed, 24 Aug 1921 00:00:00 +0530 Fri, 17 Jul 2026 11:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470144 Periodic Bantan adjustments in a partnership are described as prima facie bases for accounting, rather than conclusive settlements: a party challenging an adjustment at the annual Nikash must establish error. In a partnership without a fixed term, dissolution requires communication of notice to the other partners; continued participation in the business may support continuance. A partner conducting, without consent, a competing business of the same nature must account to the firm for all resulting profits, and a stipulated penalty does not replace that obligation. Account-book production should be addressed during the accounting inquiry, with adverse evidentiary consequences potentially arising after proper notice and non-production. Case-Laws Indian Laws Wed, 24 Aug 1921 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470144