First i tried to get the latest files from the TFS , but shows a dialog box stating that i have all the latest files. Then i tried to getting the latest through Get Specific Version, still i was unable to get the latest files.
I even tried deleting the workspace.
The Team Foundation Power Tools include a command called Scorch that may be of use. The intent of the command is to ensure your local folders/files match exactly with the server folders/files. I'd be sure that you don't have anything in your local folders that isn't under source control that you don't want to lose before using this command or have a good backup.
I don't know if you're going through the GetLatest from a Solution/Project in Solution Explorer, but I've found that to not work -- not often -- but every once in awhile.
When that happens, I normally have better luck doing a GetLatest against the folder/project in Team Explorer's Source Control Explorer. I haven't yet had a Get Latest issue that needed anything more drastic...
(knock on wood)