Trust income upto 85%

No, remaining is taxable.

1. According to sec 11(2), where the total income of the trust to the extent of 85% is not applied during the year, 
i) if the same was accumulated to be set apart for a period not exceeding 5 years for future use. 
ii)  The money so set apart shall be invested in the prescribed mode as per sec 11(5) 
iii) The statement shall be furnished to the AO within the due date of furnishing the ROI. 
2. In your case application can be made in Form 10 for the balance 11% which you have not applied for the object of the trust. Unless application is made in form 10 on or before the due date, it remains to be taxable in the year.
Please correct me if the above solution has an alternative view.