Hello Kokila,
You could use html anchor tag <a href ....> in the action item description. But there is a catch.
Pro
the email has the masked/hyperlink, which looks good instead of complete url and redirection works.
Con
The action item details page in CA PPM, where you respond to the action item, shows the complete html tag <a href= ....> and the redirection doesn't work
We tried this, but due to the problem on the Action Item details page, we went back to using the complete url instead of masked/hyperlink
Regards,
Albert