Hi Hermant
Check the memory aligment of the buffer descriptors and LAN (some need 16 byte and some 512 byte aligment).
Also check out the uTasker K60 project µTasker Kinetis TWR-K60N512 support which contains an integrated IPv4/v6 stack - it allows the K60 and its board to be simulated in real-time, including Ethernet operation.
Its Kinetis Ethernet driver includes KSZ8031, KSZ8051, KSZ8081RNA, DP83849I, KSZ8041NL and KSZ8863 PHY support built in (other references available are DP83848, LAN8700, LAN8720, KS8721, KS8721B, ST802RT1B, DM9161AE, RTL8201E, Am79C875VC) and other PHY are simple to add (about 15 minutes work in the simulator). Plus it allows adding further SPI based ENC424J600 Ethernet interfaces and multi-homed network support.
Completely free for non-commercial work, but fully supported here or at its own forum.
Regards
Mark
Kinetis: µTasker Kinetis support
K60: µTasker Kinetis TWR-K60N512 support / µTasker Kinetis TWR-K60D100M support / µTasker Kinetis TWR-K60F120M support
For the complete "out-of-the-box" Kinetis experience and faster time to market