I want to know that if I send the Bulk Mails from Server and it comes into Blacklist. Does it effects the Website Ranking, Ad Sense earning etc., If yes/no, why?
There is no absolute evidence to suggest that a blacklisted MAIL server adversely affects your rankings, however it is always possible that Google do it. I'd venture a guess though that is extremely unlikely, given how many websites use shared hosting (and therefore share IP). To blacklist an IP when a single domain is responsible for the spam from a shared host would be nonsensical.
Adsense earnings wouldn't even come into the equation as they are a completely separate entity that are governed by the content of your site, and not its ranking.
Assuming your website ip address is the same and not shared, then there is an indirect risk of negative effect on rankings.
Google gets a lot of data regarding email spam as they happen to have a highly used email product, Gmail. This is a perfect source to identify bad IP addresses. Data is also easily available through multiple tools and sources ref: http://www.acomputerportal.com/bad_neighbourhood_checking.html
You can also see the connection at this post by Dan Deceuster Ref: http://www.seomoz.org/ugc/the-penguin-update-how-google-identifies-spam
So, there is a definite risk having the above situation.
If your Ad Sense is significantly dependant on search engine traffic, in the above scenario, that will be affected too.
Sending bulk mails from the server and hence generating traffic is true violation of google policy . you will get huge punishment in the google search .
Google doesn't allow software that does any of the following: Allows marketers to indiscriminately obtain email addresses and/or send emails Turns computers into email servers Sends emails to unsolicited customers or skims the internet for email addresses Automates the sending of bulk social networking friend requests, invites, or comments