This is a known linker bug, SDSCM00030700. For C5400, this bug occurs only in 4.2.x. As a workaround, you can use the linker from 4.1.1.
If you want to continue to use 4.2.0, you should change the code to use copy tables instead of the .label directive.
See TMS320C6000 Assembly Language Tools v7.4 User's Guide (SPRU186W) section 7-8 "Linker-Generated Copy Tables"; The C5400 linker version 4.2.0 should support copy tables in the same manner.
See also Advanced Linker Techniques for Convenient and Efficient Memory Usage (SPRAA46)