{"Result" : [
              {
                "Id" : "5214",
                "ParentReasonId" : "0",
                "Description" : "Billing & Payment",
                "SysName" : "Billing & Payment",
                "SysCategory" : "Billing & Payment",
                "ClientId" : "924",
                "DispositionCount" : "6",
                "IsActive" : true,
                "ChildReasonCount" : "8",
                "Attributes" : [],
                "SortOrder" : "0",
                "CreatedBy" : null
              }
            ]
 }

jQuery("#chained_child").cascade("#chained", {
    ajax: { url: 'Customhandler.ashx?List=MyList' },
        template: commonTemplate,
        match: commonMatch
    });

function commonTemplate(item) {
    return "<option Value='" + item.Result.Id + "'>"
           + item.Result.Description + "</option>";
};

item.Result[0].Id

{
    "Result" :
    {
        "Id" : "5214",
        "ParentReasonId" : "0",
        "Description" : "Billing & Payment",
        "SysName" : "Billing & Payment",
        "SysCategory" : "Billing & Payment",
        "ClientId" : "924",
        "DispositionCount" : "6",
        "IsActive" : true,
        "ChildReasonCount" : "8",
        "Attributes" : [],
        "SortOrder" : "0",
        "CreatedBy" : null
    }
}

[
    {
        "Result" :
        {
            "Id" : "5214",
            "ParentReasonId" : "0",
            "Description" : "Billing & Payment",
            "SysName" : "Billing & Payment",
            "SysCategory" : "Billing & Payment",
            "ClientId" : "924",
            "DispositionCount" : "6",
            "IsActive" : true,
            "ChildReasonCount" : "8",
            "Attributes" : [],
            "SortOrder" : "0",
            "CreatedBy" : null
        }
    }
]

$(function(){
  $('#chained_child').cascade(
    '#chained',
    {
      ajax: {
        url: 'Customhandler.ashx?List=MyList',
        dataFilter: extractResult
      },
      template: customTemplate,
      match: customMatch
    }
  );

  function extractResult(data) {
    return eval('(' + data + ')').Result;
  }

  function customTemplate(item) {
    return $('<option />')
      .val(item.Id)
      .text(item.Description);
  }

  function customMatch(selectedValue) {
    return this.ParentReasonId == selectedValue;
  }
});