Hi Mangesh,
This issue seems to be due to the large number of Data.
Just a guess, If you haven't done these two steps before while installation of BO.
In the Crystal Reports Processing Service section, complete the following fields:
Database Records Read When Previewing or Refreshing (0 for unlimited)
Defines the number of database records that are read when you preview or refresh the database.
Enter 0.
Default: 20000
In the Crystal Reports Cache Service section, complete the following fields:
Maximum Cache Size (KB)
Defines the maximum cache size in kilobytes.
Enter 512200.
Default: 256000
Check This thread as well
-Gurjeet