Sandeep, IAR is more user friendly, CCS initial settings are a bit complex. But once you get familiar CCS is also quite comfortable. I have heard from a senior TI person that, TI has a plan to stop IAR support. If that is true, its better to use CCS. These filter designs are available in the example program at TI web-site
I have experience with CCS. It is improving with each version. Lot of examples and guided configuration (GRACE). It can also compile with the open source MSPGCC toolchain.
The last version also integrates energy tracing for the last version of MSP430.
I am personally fine with it and I think I will not change.