Java Security

when accessing one of the functionality in application we get the following error:
java.security.AccessControlException: Access denied (java.io.FilePermission /Method_Import_Yearly_0.xls write)
at java.security.AccessController.checkPermission(AccessController.java:108)
at java.lang.SecurityManager.checkPermission(SecurityManager.java:548)
at com.ibm.ws.security.core.SecurityManager.checkPermission(SecurityManager.java:212)
at java.lang.SecurityManager.checkWrite(SecurityManager.java:978)
at java.io.File.createNewFile(File.java:875)

Below is the was.policy file contents

grant codeBase "file:${application}" {
/*** DO NOT MODIFY ***/
permission java.io.FilePermission "${FJFCONFIG_ROOT}/-", "read";
permission java.io.FilePermission "${APPLICATION_INSTALL_BASE}/-", "read, write, delete";
permission java.io.FilePermission "${WAS_HOME}/-", "read";
permission java.io.FilePermission "${WAS_USER_HOME}/-", "read";
permission java.io.FilePermission "${WEBSPHERERESOURCES_ROOT}/-", "read";
permission java.io.FilePermission "${WAS_HOME}/profiles/node/temp/-", "read,write,delete";
permission java.io.FilePermission "${MERCURY_HOME}/-", "read, write, delete";
/*********************/

/*** WELL-KNOWN ENTRIES ***/
permission java.lang.RuntimePermission "getClassLoader";
permission java.lang.RuntimePermission "setFactory";
permission java.lang.RuntimePermission "accessClassInPackage.sun.misc";
permission java.lang.RuntimePermission "accessClassInPackage.sun.beans.infos";
permission java.lang.RuntimePermission "accessDeclaredMembers";
permission java.net.SocketPermission "*", "accept, resolve, connect";
permission java.util.PropertyPermission "*", "read, write";
permission java.security.SecurityPermission "printIdentity";
permission java.lang.reflect.ReflectPermission "suppressAccessChecks";
permission java.lang.RuntimePermission "modifyThread";
permission java.lang.RuntimePermission "modifyThreadGroup";
permission java.security.SecurityPermission "getProperty.ssl.SocketFactory.provider";
permission com.ibm.websphere.security.WebSphereRuntimePermission "accessRuntimeClasses";
permission com.ibm.websphere.security.WebSphereRuntimePermission "getSSLConfig";
/**************************/

/*** ADD USER-DEFINED ENTRIES HERE ***/
permission java.io.FilePermission "/tmp", "read, write, delete";
permission java.lang.RuntimePermission "createClassLoader";
permission java.lang.RuntimePermission "getProtectionDomain";
/*************************************/
};