The Bombay High Court has ruled in favour of the Income Tax Department in the Vodafone Case regarding taxability of the transfer of its (share capital from Hutch)*. See here and here for newsreports. The judgement can be downloaded from here.
* Added after posting
"I realise that some of my criticisms may be mistaken; but to refuse to criticize judgements for fear of being mistaken is to abandon criticism altogether... If any of my criticisms are found to be correct, the cause is served; and if any are found to be incorrect the very process of finding out my mistakes must lead to the discovery of the right reasons, or better reasons than I have been able to give, and the cause is served just as well." -Mr. HM Seervai, Preface to the 1st ed., Constitutional Law of India.