Why is Samsung Galaxy Ace 3 (GT-S7270) restarting and not formatting?

Hey there!I have a problem with my Samsung Galaxy Ace 3 (GT-7270). When I switch it on, my android device automatically restarts after a few minutes. I connect to the wifi and try to do 'Software update' the phone restarts. I tried formatting, the phone restarted. So I thought of rebooting the system. At first, it shows "No Command" and then I see a message in red "failed to compare '/system/csc/common/system/media/audio/ringtones/20_Sea_breeze.ogg' '/system/media/audio/ringtones/20_Sea_breeze.ogg' (No data available). When I select 'wipe date/factory reset' and then 'Yes -- delete all user data', it shows "Data wipe complete". I then select 'reboot system now', it shows "Error!". Why is it so? I tried giving my phone for repairing but nothing happened. Could you please give me a better solution? I don't mind doing anything for my phone.