Getting stuck at - Authenticating with the iTunes Store

I am trying to upload new version of my app. It validated successfully and then we tried to publish through Xcode Organiser. But it took ages and finally we had to cancel after 1 hour. Its a small app less then 1 MB.
Next we tried to upload using Application Loader and found the same problem, but it displayed "Authenticating with the iTunes Store" and was stuck there forever. Did not return any error, but did not upload as well.
Please someone help me, its really urgent.

Please view answer posted by me below to solve this issue. I tried to solve it in may ways and follow two methods worked for me.
http://stackoverflow.com/a/19996704/1227485
I hope it helps.

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    Please view answer posted by me below to solve this issue. I tried to solve it in may ways and follow two methods worked for me.
    http://stackoverflow.com/a/19996704/1227485
    I hope it helps.

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