I support Active Directory professionally, and have a couple Macs at home -- never really tried to put them together before, but I walked through your steps and joined my domain with no problems (10.6.4 OSX).
Here are some things to check:
Assuming you have DNS and AD configured and working on your server -- does your domain resolve to the IP address of your server? (on the Mac if you ping naushad.com does it reply with the correct address for your 2008 server?)
Note as well that the 2008 server should point to its own IP address for DNS in its network settings.
Does the Mac have it's primary DNS server set to the address of your 2008/AD computer? Not sure if it matters, but on my Mac I have the AD domain name entered as a secondary search domain in Network system preference.
Any problem connecting to a file share on the 2008 box from the mac? (you should be able to do this regardless of whether it is joined to the domain).
I suspect you should be double checking your DNS on server and client, it sounds like that it the likely problem.