I confirm I can reproduce that and indeed there is a bug in the way Filebeat is handling file truncation. It does not happen all the time and in your case @Dheeraj_Gupta it is triggered by identity reuse (either inode reuse or using file identity path as you described).
I'll post more details about my finding in the GitHub issue [Filebeat] filestream input resends whole log files after restart · Issue #36541 · elastic/beats · GitHub.