Hello Deepanshu,
No. You can not check transport logs for production system by logging into Development System.
When you display the transport logs in SE01, firstly it will check the cofile in the transport directory, if the cofile does not have any information about Production System, you will not be able to get the transport logs for Production System.
On the contrary, if you log into Production System, you will be able to check the transport logs for Development System. That is because the cofile in Production System contains the transport information for Development System.
Hope this answers your question.
Best regards,
Shirley Wang