Taxability of Meal Passes

Finance Act, 2009 has aboilished FBT wef 01-04-09. As a consequence it has restored taxation of perquisites vide Rule 3. In this event Meal passses issued by the employer which were earlier exempt even under FBT would now be required to be considered as a perquisite. Max amount which is not perquisite is Rs.50/= per meal. Meal passes issued above this amount would therefore be taxable as perks. Whether the above proposition is correct. Kindly correct me if I am wrong....