I want to restore my apple tv but message shows device cannot be found

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Hi I have same problem too.

Ihave windows 7 at my home desktop and latest version of iTunes. I bought this apple TV 2 from a friend of mine couple of days ago. It works perfectly fine when I plugged into my TV however the home sharing is still linked to my friend's email address so I tried to restore it by plugging into my iTune but meessage pops out everytime that device cannot be found. I tried re-installing as well however results remains the same i.e. device cannot be found.

Any help appreciated.

Please do let me know if you require additional information.