It has been observed that some journals revised an article several times, how many times an article can be revised in the journal? Any rule regarding this?
There is no fixed rule - but with established journals there tends to be a set pattern. Rarely, if ever, does an original manuscript get accepted first time with no revisions required. If the reviewers mainly agree that only minor revisions are required then it often only requires the one revision. If the reviewers are positive of the potential of a manuscript but suggest major revision, this will require at least one extensive revision that usually goes back to the reviewers. They may request further revisions. It's not common for a manuscript to be asked to revise more than twice.
I review for many journals - but for one particular journal I am employed as one of a few experts who only review 'complex' manuscripts. These are usually ones where the reviewers have asked for several revisions - but still can't all agree if to accept or not. My decision then becomes the 'casting vote'.
I once had to do three revisions, but I thought it was worth it because it was for a well-known journal,
But I think that the most prestigious journals now often limit the number of revisions. This is because prestigious journals receive SO many submissions, so they can be more selective.
Many thanks to Dean Whitehead, Michael W. Marek, Ioannis Delimaris, Dr Faizul Nisha and Asma Mehan for your kind information regarding revision of an article.