I need to restore my apple Tv 2nd. generation, but iTunes do not have the software to do it.

If your problem persists get yourself a micro USB cable for the Apple TV 2 and 3 models or a USB-C cable for the Apple TV 4 (sold separately), you can restore your Apple TV from iTunes:

1. Remove ALL cables from Apple TV. (if you don't you will not see Apple TV in the iTunes Source List)
2. Connect the micro USB (or USB-C) cable to the Apple TV and then to your computer.
3. Reconnect the power cable (omit this step for Apple TV 2)
4. Open iTunes.
5. Select your Apple TV in the Devices list (which can be found below the volume slider near the top of the iTunes window), and then click Restore.

(You may already have a micro USB cable if you have a camera or other digital device)

If your Apple TV fails to restore through iTunes……..

1. Check that you have correctly followed the instructions for your model of Apple TV.
2. If not already, try using a powered USB port.
3. Repeat the process but this time try connecting the cable while iTunes is closed.
4. Repeat the process with another cable.
5. Try restoring the Apple TV on another computer in another location.

No, you have to restore through iTunes. It sounds to me like a problem with your internet connection, did you try step 5 immediately above.

Ok. So I had same problem where it kept saying no software, try later, update browser. Then tried no power and just micro usb through a powered usb ie back of imac slot and it worked fine

As was stated in the steps above, power needs to remain disconnected.