I have made some changes in my example to make it more simple for demo on javaranch.
Please find the screenshot of project structure in Eclipse.
Please Note:- As mentioned in my original post - I have replaced the jquery .js files with my test.js. As I found, the issue is not specific to jquery, even it is not working with any included .js file
The very interesting point here is,
If I remove the webservice class i.e. HelloWsService.java and make my application a pure WebApplication and restart tomcat server.
Then I am successfully able to run http://localhost:8080/CVR_WS_GitHub/cvrtest and I get alert message along with 'Hello CVR TEST HTML' in UI.
I really do not understand the root cause of this issue.
Please help me. Also let me know, if I am doing something wrong.
Hope, I have posted all the required details.