Please suggest any Emulator that support In system programmable devices for e.g. AT89S seriese.

Any IDE which supports both compilation and emulation.

and

Can you please tell me which are/is the good emulator/s for ISP device preferably with JTAG kind of interface.

You are walking all over the place.

AT89 does not have JTAG and I know of no ICE that does.

The closes you will come to an IDE will be SILabs and they use JTAG ISP for their chips which have built-in ICE capability.

As far as an ICE for the AT89 I would look at Ceibo, they do, in my opinion, give the most value for money. If your budget is unlimited, look at Nohau.

I would recommend against looking for an IDE since that force you to use editor, compiler and emulator from the same company and the company that make an excellent compiler make a lousy editor. I have never been more frustrated than the period in my life when I was forced to use an IDE.

Erik