2003 (12) TMI 24

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.... that under the service rules of the bank concerned, the officers, if so advised, may get the facilities and amenities of the use of the furniture to be supplied by the bank at a particular rate of hire charges. This rate has been fixed under the condition of employment at a sum equivalent to 2.05 per cent, of the basic pay. Admittedly, in the event the aforesaid amenities are not availed of, then no monetary benefit is given to any of the employees in lieu thereof. The affidavit-in-opposition filed by the bank factually says the furniture is supplied to the officers as a matter of course under the norms and convention at a rate much less than the market rate. The facts and figures of the possible rate in the market have been given in re....

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...., contends that the judgment cited by Mr. Murarka is not applicable and the same is distinguishable on the facts. He further submits that the word "perquisite" used in the aforesaid section is an inclusive definition and the instances given therein are illustrative and no exhaustive definition is spelt out. He contends further than the concession is to be judged in the context of market letting out value of the furniture supplied. I have heard the respective contentions of learned counsel for the parties. Firstly, I shall be dealing with the context of the factual aspect as made out in the affidavit-in-opposition by the bank as to whether the statements and averments expounding hiring rate made therein can be treated to be the value of c....