No. You are simply using a bad workflow. Skip PS, import your AI files directly in AE and arrange them. Likewise, you can replace the smart object layers at any time with AI native files...
Hey, thanks for replying, but i am in middle of the project, and can't change the workflow right now, is there any possible way that i can split smart object as layers in ae?????
I use your workflow all the time because I'm always having to bring PSD files into AE that have been created with smart vector objects. Edit original opens Photoshop, double click on vector smart object opens Illustrator, modify and save in AI, Save in Photoshop, and then the object is updated in AE. Not an awful extra step but a required one.
Here's another solution that might work depending on the layer effects applied and the complexity of the smart object. When you have AI open select all the paths and copy. Back in AE deselect all layers and then double click the Rectangle Tool to add a new comp sized shape layer. Now paste. Your Illustrator path will become a mask on the Rectangle shape layer.
You can even take this a step further by setting a keyframe for a mask path, copying that, then creating a new shape layer with the pen tool, setting a path keyframe, and then paste from the copied mask to the created shape keyframe. Now you have access to all of the cool shape layer tools like Repeater, Pucker and Bloat and the others. There's also a script out there somewhere that converts masks to shape layers.
If your original PSD file was imported supporting layer styles you can open up the layer you are replacing Copy the layer styles, and then paste them to the shape layer.