Compensation for Retiring from Partnership

What is the legal compensation entitled to a retiring partner, who wants voluntarily to exit a partnership? The Partnership Law 1932 does not specifically address the compensation aspect and appears to addresses only the liability considerations for the exiting partner. So, I am assuming that it is based on some court rulings since the law came into effect in 1932, as there has not been any amendment to the law. The situation in this case, is a running and profitable business, where one partner wants to exit the partnership. The business has consistently provided returns for several year. The partners cannot agree on the compensation claimed by the partner choosing to retire. The retiring partners claim is to have the proportionate value of what shows on the assets side of the last years balances sheet. This does not make sense, as it can be done only by selling key assets of the company that are essential. The rest of the partners are agreeable to give between 10 to 12 times of highest earnings in past three years in addition to the proportionate share of what is shown in the Capital Account. One CA was of the opinion, that legally the retiring partner is only entitled to the proportionate part of the latest value in Capital Account. Can anyone provide a clarification?