Hi Afzal,
It is indeed, the below calls the invoke action api and passes it certain variables and rather than text as the action it displays an icon.
<a href="../object/invokefunction.rails?class_name={Class/Module/Name}.{Class/Name}&key={Guid}&function_name=AddNote"><img src="../../images/AddNote48.png" border='0' height='20px' width='20px' /></a>
In our system this has been used at the process level though i see no reason it couldn't be used more specifically at say incident.
You will need to make sure you either create a folder on your webserver called images within the webaccess folder or edit the link above, default webaccess folder location is "C:\Program Files (x86)\LANDESK\Service Desk\WebApp\WebAccess"