After searching on internet and have hands on this problem, finally found the solution.
SAMSUNG Galaxy Y S5360 has CPU 830 MHz ARMv6 and minimum requirement of minimum system requirements for AIR 3.3 Beta on Android :
CPU: ARMv7 processor with Vector FPU, Minimum 550MHz, OpenGL ES2.0, H.264 & AAC H/W Decoders OS: Android 2.2, 2.3, 3.0, 3.1, 3.2 & 4.0 RAM: 256MB RAM
Later I used a Motorola mobile handset with higher version my .apk file worked well.
thanks to everyone for your efforts.