My requirement is just to display a set of values retrieved from database on a spread. I am using jquery.
I use JSON unless I'm required to use XML. It's simpler to understand, and (because it requires less configuration overhead) it's easier to program for reading and writing if the libraries are available in your context, and they're pretty ubiquitous now.
When Amazon first exposed their catalogs as a web service, they offered both JSON and XML. Something like 90% of the implementers chose JSON.