Hi Harshal,
did you follow the hints from Rob and Christian? Your configuration still misses testOnBorrow and validationQuery. These are the minimum to validate a connection before it is returned from the connection pool. Without them the connection pool will return already closed connections, which lead to the problems you describe.
Please read some articles how to configure the tomcat connection pool for production environments and add the parameters which are useful in your setup. You can start with the parameters described in this blog post.
Cheers,
Sebastian