Open Base Directory Restriction Error while Uploading Image

I am getting this error while uploading any image.

Warning: file_exists() [function.file-exists]: open_basedir restriction in effect. File(C:\Windows\Temp\phpC40D.tmp) is not within the allowed path(s): (D:\INETPUB\VHOSTS\kbacw.in\ieee-kccoe\) in D:\INETPUB\VHOSTS\kbacw.in\ieee-kccoe\wp-includes\functions.php on line 1722
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The image is successfully uploaded when i check in media library. but the error is coming after upload completes.

I searched for this and found out that this happens when we are trying to access a file which is not within the specified directory but it is a level up from the current directory. And thus unable to access it.

But i need a solution, Please help 🙂