Hi Rajesh,
Please check if encounter the same when test the direct ITS service. You can run t-code: sicf, then
open the webgui service, and righ click on the webgui service to choose "test sevice". This will
open a direct ITS service page. You can test from here to see if you encounter the same or not.
If you encounter the same, then it will be a ITS issue instead of transaction launcher issue.
For the detail steps, you can refer to following KBA.
1877395 - Transaction launcher trouble shooting and how to identify if the problem is related to ITS or transaction launcher itself?
Link: http://service.sap.com/sap/support/notes/1877395
Best Regards,
Bruce