Vodafone has lost its case against the Indian tax authorities in the Bombay High Court. I had discussed the arguments in the case here.
It remains to be seen whether Vodafone lost as its petition was held to be premature or whether it lost on merits. The decision would be extremely surprising if it decides against Vodafone on merits.
Note - I will discuss the judgment in depth once it is available. For now, here are a few links discussing the decision of the Court:
(Update: A note highlighting some of the conclusions of the Court along with a few brief comments is posted here.