Booting Debian Wheezy on a BeagleCore ? (Kernel panic - not syncing: Attempted to kill init!)

I'm trying to boot a Debian Wheezy Image, Ker 3.8 on my BeagleCore (a smaller version of BeagleBone) with TI AM335x Cortex-A8 processor. I took the Debian Image from beagleboard site. When I try to boot, on a serial interface for debug, I get this messages:

U-Boot SPL 2016.01-00001-g4eb802e (Jan 13 2016 - 11:14:31)
Trying to boot from MMC
bad magic

U-Boot 2016.01-00001-g4eb802e (Jan 13 2016 - 11:14:31 -0600), Build: jenkins-github_Bootloader-Builder-313

    Watchdog enabled
I2C:   ready
DRAM:  512 MiB
Reset Source: Power-on reset has occurred.
MMC:   OMAP SD/MMC: 0, OMAP SD/MMC: 1
Using default environment  

Net:   <ethaddr> not set. Validating first E-fuse MAC
Could not get PHY for cpsw: addr 0
cpsw, usb_ether
Press SPACE to abort autoboot in 2 seconds
switch to partitions #0, OK
mmc0 is current device
Scanning mmc 0:1...
gpio: pin 56 (gpio 56) value is 0
gpio: pin 55 (gpio 55) value is 0
gpio: pin 54 (gpio 54) value is 0
gpio: pin 53 (gpio 53) value is 1
switch to partitions #0, OK
mmc0 is current device
gpio: pin 54 (gpio 54) value is 1
Checking for: /uEnv.txt ...
Checking for: /boot.scr ...
Checking for: /boot/boot.scr ...
Checking for: /boot/uEnv.txt ...
gpio: pin 55 (gpio 55) value is 1
2181 bytes read in 16 ms (132.8 KiB/s)
Loaded environment from /boot/uEnv.txt
Checking if uname_r is set in /boot/uEnv.txt...
gpio: pin 56 (gpio 56) value is 1
Running uname_boot ...
loading /boot/vmlinuz-3.8.13-bone79 ...
5644336 bytes read in 333 ms (16.2 MiB/s)
loading /boot/dtbs/3.8.13-bone79/am335x-boneblack.dtb ...
26118 bytes read in 24 ms (1 MiB/s)
loading /boot/initrd.img-3.8.13-bone79 ...
2905600 bytes read in 179 ms (15.5 MiB/s)
debug: [console=ttyO0,115200n8 capemgr.enable_partno=BB-UART1,BB-UART2,BB-UART4,BB-UART5 capemgr.disable_partno=BB-BONELT-HDMI,BB-BONELT-HDMIN root=UUID=4d8c9d4c-a16d-47ac-a32c-43d0155df072 ro rootfstype=ext4 rootwait coherent_pool=1M quiet init=/lib/systemd/systemd cape_universal=enable] ...
debug: [bootz 0x82000000 0x88080000:2c5600 0x88000000] ...
Kernel image @ 0x82000000 [ 0x000000 - 0x562030 ]
## Flattened Device Tree blob at 88000000
   Booting using the fdt blob at 0x88000000
   Loading Ramdisk to 8fd3a000, end 8ffff600 ... OK
   Loading Device Tree to 8fd30000, end 8fd39605 ... OK

Starting kernel ...

Uncompressing Linux... done, booting the kernel.
[    0.384810] omap2_mbox_probe: platform not supported
[    0.540541] tps65217-bl tps65217-bl: no platform data provided
[    0.604330] bone-capemgr bone_capemgr.9: slot #0: No cape found
[    0.641437] bone-capemgr bone_capemgr.9: slot #1: No cape found
[    0.678546] bone-capemgr bone_capemgr.9: slot #2: No cape found
[    0.715656] bone-capemgr bone_capemgr.9: slot #3: No cape found
[    0.741854] omap_hsmmc mmc.5: of_parse_phandle_with_args of 'reset' failed
[    0.803809] pinctrl-single 44e10800.pinmux: pin 44e10854 already requested by 44e10800.pinmux; cannot claim for gpio-leds.8
[    0.815463] pinctrl-single 44e10800.pinmux: pin-21 (gpio-leds.8) status -22
[    0.822748] pinctrl-single 44e10800.pinmux: could not request pin 21 on device pinctrl-single
[    0.893233] Unhandled fault: external abort on non-linefetch (0x1008) at 0xe0858c20
[    0.901225] Internal error: : 1008 [#1] SMP THUMB2
[    0.906217] Modules linked in:
[    0.909405] CPU: 0    Not tainted  (3.8.13-bone79 #1)
[    0.914691] PC is at cpts_fifo_read.constprop.1+0x18/0xc4
[    0.920317] LR is at cpts_systim_read+0x11/0x7c
[    0.925040] pc : [<c0326468>]    lr : [<c0326761>]    psr: 000001b3
[    0.925040] sp : df071db8  ip : 00000000  fp : de231664
[    0.936993] r10: de231000  r9 : de231758  r8 : c084e0c0
[    0.942440] r7 : 00000001  r6 : ffffffff  r5 : 00000010  r4 : de231670
[    0.949241] r3 : e0858c00  r2 : 00000001  r1 : de2316d0  r0 : de231670
[    0.956039] Flags: nzcv  IRQs off  FIQs on  Mode SVC_32  ISA Thumb  Segment kernel
[    0.963925] Control: 50c5387d  Table: 80004019  DAC: 00000015
[    0.969907] Process swapper/0 (pid: 1, stack limit = 0xdf070240)
[    0.976163] Stack: (0xdf071db8 to 0xdf072000)
[    0.980699] 1da0:                                                       e0858c00 de2316d0
[    0.989219] 1dc0: de2316bc 35318bf5 00000000 0000001d c052e7a8 c0326761 de2316e8 de2316bc
[    0.997740] 1de0: 35318bf5 c00611f1 de231670 20000113 de2316e8 c0326927 35318bf5 00000000
[    1.006259] 1e00: 00000000 00000004 df0d5410 de231000 df0d5400 c0325bab df0d8ac0 de231540
[    1.014775] 1e20: c0893bb8 0000002b de231540 df0d5400 df0d5410 00000005 00000000 df0d5410
[    1.023298] 1e40: e0858800 e0858a00 e0858a20 e0858a40 e0858a60 e08588c0 e08588e0 00000008
[    1.031813] 1e60: 00000001 0000003c 4a102000 4a102000 00002000 00000010 00000001 de231298
[    1.040338] 1e80: e0858d00 0000000a 00000400 00000002 00000020 00000008 df0d5410 c094362c
[    1.048868] 1ea0: df0d5410 c08b2c40 00000000 c0829039 00000102 c0846d70 00000000 c02c82b1
[    1.057381] 1ec0: c02c82a1 c02c7753 00000000 df0d5410 c08b2c40 df0d5444 00000000 c02c78b3
[    1.065896] 1ee0: c08b2c40 c02c7869 00000000 c02c6887 df049478 df0c6180 c08b2c40 c08a8090
[    1.074421] 1f00: de23d140 c02c7247 c0753554 c08b2c40 c08b2c40 df070000 c08d4180 00000000
[    1.082937] 1f20: c0829039 c02c7bb5 00000000 c0833968 df070000 c08d4180 00000000 c0829039
[    1.091461] 1f40: 00000102 c000867f 00000007 00000007 c088bc98 c0833964 c0833968 00000007
[    1.099978] 1f60: c0833948 c08d4180 c080d1c9 c0846d70 00000000 c080d6a3 00000007 00000007
[    1.108503] 1f80: c080d1c9 c0d60fc0 00000000 c04ccfb1 00000000 00000000 00000000 00000000
[    1.117013] 1fa0: 00000000 c04ccfb7 00000000 c000c8fd 00000000 00000000 00000000 00000000
[    1.125537] 1fc0: 00000000 00000000 00000000 00000000 00000000 00000000 00000000 00000000
[    1.134055] 1fe0: 00000000 00000000 00000000 00000000 00000013 00000000 00000000 00000000
[    1.142587] [<c0326468>] (cpts_fifo_read.constprop.1+0x18/0xc4) from [<c0326761>] (cpts_systim_read+0x11/0x7c)
[    1.153018] [<c0326761>] (cpts_systim_read+0x11/0x7c) from [<c00611f1>] (timecounter_init+0x11/0x1c)
[    1.162545] [<c00611f1>] (timecounter_init+0x11/0x1c) from [<c0326927>] (cpts_register+0xf3/0x1b8)
[    1.171894] [<c0326927>] (cpts_register+0xf3/0x1b8) from [<c0325bab>] (cpsw_probe+0x823/0x960)
[    1.180877] [<c0325bab>] (cpsw_probe+0x823/0x960) from [<c02c82b1>] (platform_drv_probe+0x11/0x14)
[    1.190222] [<c02c82b1>] (platform_drv_probe+0x11/0x14) from [<c02c7753>] (driver_probe_device+0x53/0x168)
[    1.200282] [<c02c7753>] (driver_probe_device+0x53/0x168) from [<c02c78b3>] (__driver_attach+0x4b/0x4c)
[    1.210093] [<c02c78b3>] (__driver_attach+0x4b/0x4c) from [<c02c6887>] (bus_for_each_dev+0x27/0x48)
[    1.219521] [<c02c6887>] (bus_for_each_dev+0x27/0x48) from [<c02c7247>] (bus_add_driver+0xe3/0x168)
[    1.228949] [<c02c7247>] (bus_add_driver+0xe3/0x168) from [<c02c7bb5>] (driver_register+0x3d/0xc4)
[    1.238289] [<c02c7bb5>] (driver_register+0x3d/0xc4) from [<c000867f>] (do_one_initcall+0x1f/0xf4)
[    1.247630] [<c000867f>] (do_one_initcall+0x1f/0xf4) from [<c080d6a3>] (kernel_init_freeable+0xc3/0x158)
[    1.257516] [<c080d6a3>] (kernel_init_freeable+0xc3/0x158) from [<c04ccfb7>] (kernel_init+0x7/0x98)
[    1.266951] [<c04ccfb7>] (kernel_init+0x7/0x98) from [<c000c8fd>] (ret_from_fork+0x11/0x34)
[    1.275659] Code: 2701 f100 09e8 6823 (6a1a) 07d3
[    1.280655] ---[ end trace b2036333b4d03ad2 ]---
[    1.285687] Kernel panic - not syncing: Attempted to kill init! exitcode=0x0000000b

With a Debian Jessie image, Ker 4.4, board is booting normally.

Any idea how to solve this, is kindly appreciated. Thank you.

As per my knowledge there was some issue with CTPS driver in kernel V3.13 (forget the exact kernel version). So it was an open issue. May be with newer kernel version they have fixed it. If you have the source code then try by disabling the CTPS driver CONFIG_TI_CPTS=n.