Thank you for your response and do overlook the weekend delay from my end.
I can access the webpage of the printer on port 80, 280 and 631 using the Firefox.
Ping works perfectly fine.
I added the printer from http://localhost:631
page via socket uri socket://10.x.x.x:9100
I can telnet to port 80, 280 and 631 of the printer perfectly.
I can print the .ps files from the webpage of the printer easily as well.
The thing which pinches me is that the error message of "broken pipe unable to write print data". The same setup used to work quite fine earlier and smoothly.
I hope that I succeeded in satisfying you with my answers/feedback.
Edit => Is it possible that permission of some file hinders CUPS from using them? Maybe this only reason of broken pipe and data could be written because some socket libraries are not being shared properly perhaps.