I found out possible solutions for the issue and the problem was with the graphics card driver issue.
Let start,
Shut down your machine and start Power On. Start PC in safe mode.
I entered in safe-mode by repeatedly pressing F8 key. You have to be patience to enter into Safe mode. While entering into safe on screen you will get "Please Wait" message.
Now press Troubleshoot option.
In the Troubleshoot screen, press Advanced options.
In the Troubleshoot screen, press Advanced options.
Now you will get below message that machine is about to restart in order to change several Windows options, including enabling Safe Mode after restart. Press Restart.
Press the F4 key on your keyboard once machine restarts to enter into the Safe Mode. If you you fail then you have repeat all above steps again.
Now go Control Panel-> System-> Device Manager
Expand Display Adapter & disable listed Display Adapters driver. In my case its Intel HD Graphics. Also disable listed Monitors.
UPDATE-1 - If your issue persist download & install Latest Display Card drivers & motherboard chipset drivers. I was facing same issue after above workaround but by installing latest display card & intel motherboard chipset drivers it resolved.
UPDATE- 2
To resolve Black screen issue Microsoft has released Windows 8 Client and Windows Server 2012 General Availability Update Rollup (KB 2756872). Download & Install KB 2756872 from below URL
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