I am uploading iPhone application using latest xCode 8. I have good internet connection and all the relevant settings set up at iTunes connect. My distribution profiles are also
This could be the problem of Xcode. You can try two different approaches here.
i) Use Application loader, Download it. ii) Before using Application Loader please un-install all certificate and upload the ipa file. If it fails via app loader.
then second approach we can use try to upgrade the version of Xcode. Either de-grade it (xcode 7.X) or upgrade it (8.X) some time with some specific version of xcode and and specific version of OS system throw such error. Try using those hopefully second one can help you to upload the app.