Ragavan,
Please try clearing the fdb entry on that port and test again. 
clear fdb ports 
The following are some examples:
First example, configures limit learning on ports 1 through 10 and 22  through 23 on the default VLAN. The port will learn two MAC addresses  before the port is blackholed.
# configure port 1-10, 22-23 vlan "Default" limit-learning 2 action blackhole
This  second example, configures limit learning on slot 1, port 1 through 10,  and slot 2, ports 22 and 25. The port will learn 1 MAC address before  its stops learning.
# configure port 1:1-1:10, 2:22,2:25 vlan "default" limit-learning 1 action stop-learning