Can I receive data which is transmitted through UART port from a transmitter side raspberry pi on a receiver side Raspberry pi's GPIO pin??
Yes, as long as the signal is 3V3 compatible.
You could use the Pi's UART RX pin (pin 10, GPIO 15) and the standard Linux serial software. That will handle standard baud rates (say up to 1 Mbps).
Alternatively you can use a general GPIO (any other GPIO on the extension header) and software serial. That should be good up to 19k2 bps or so.