Cocoapods Install/Update Error - Assertion failed: _initializationCompletedSuccessfully

Question

I'm using CocoaPods 0.39 and XCode 7.2, Initially I just setup project with following pods

platform :ios, '8.0'
pod 'Fabric'
pod 'Crashlytics'
pod 'AFNetworking', '~> 2.0'
pod 'CRToast'
pod 'SWRevealViewController'

Today, I'm added one more pod in my project pod file

pod 'TPKeyboardAvoiding'

But every time either I'm trying to pod update or pod install, following error occurs

F0222:MyProject VCDev$ pod install
Analyzing dependencies

CocoaPods 1.0.0.beta.6 is available.
To update use: `gem install cocoapods --pre`
[!] This is a test version we'd love you to try.

For more information see http://blog.cocoapods.org
and the CHANGELOG for this version http://git.io/BaH8pQ.

Downloading dependencies
Using AFNetworking (2.6.3)
Using CRToast (0.0.9)
Using Crashlytics (3.7.0)
Using Fabric (1.6.6)
Using SWRevealViewController (2.3.0)
Installing TPKeyboardAvoiding (1.2.11)
Generating Pods project
2016-03-16 11:23:15.680 ruby[2713:48496] [MT] DVTAssertions: ASSERTION FAILURE in /Library/Caches/com.apple.xbs/Sources/IDEFrameworks/IDEFrameworks-9548/IDEFoundation/Initialization/IDEInitialization.m:590
Details:  Assertion failed: _initializationCompletedSuccessfully
Function: BOOL IDEIsInitializedForUserInteraction()
Thread:   <NSThread: 0x7fa103c98ff0>{number = 1, name = main}
Hints: None
Backtrace:
  0  0x000000010d2c8f7f -[DVTAssertionHandler handleFailureInFunction:fileName:lineNumber:assertionSignature:messageFormat:arguments:] (in DVTFoundation)
  1  0x000000010d2c870c _DVTAssertionHandler (in DVTFoundation)
  2  0x000000010d2c8978 _DVTAssertionFailureHandler (in DVTFoundation)
  3  0x000000010d2c88da _DVTAssertionFailureHandler (in DVTFoundation)
  4  0x000000010e7c354d IDEIsInitializedForUserInteraction (in IDEFoundation)
  5  0x00000001113f8631 +[PBXProject projectWithFile:errorHandler:readOnly:] (in DevToolsCore)
  6  0x00000001113fa1b6 +[PBXProject projectWithFile:errorHandler:] (in DevToolsCore)
  7  0x00007fff8667af44 ffi_call_unix64 (in libffi.dylib)
Abort trap: 6

I already tried following solution given here

1. Update Cocoapods
2. Uninstall and Reinstall Cocoapods