In the event your iTunes becomes corrupt, you can always try to recreate your library. Before beginning, it's important to note that following this procedure will delete your comments, playlists, and song ratings.
iTunes Library.itl Cannot Be Read
The following procedure applies to cases where users are met with the following error message: The file "iTunes Library.itl" cannot be read because it was created by a newer version of iTunes. If this case applies to you, you can follow the below procedure to get your iTunes up and running again:
Close iTunes and go to your iTunes folder. Enter
Next, find the files labeled iTunes Library.xml and iTunes Library.itl. Delete them:
You may now relaunch your iTunes and begin recreating your media library.