Hi Abhilash,
The date is 10/14/14 and the time is 1356.
I have created two formulas, but these formulas are working for all values not specifically date and time.
For Date-
Dateadd ('d',
tonumber ({IP_FLWSHT_MEAS.MEAS_VALUE}),
Date (1840,12,31))
For Time-
Time (tonumber({IP_FLWSHT_MEAS.MEAS_VALUE})/(24*60))
Thanks