Hi Sunil,
when navigating to the changes tab (left of this error tab). You'll see the items that have conflicts. You can double click this item and see what has been changed in both of the revisions.
After that you can right click and pick “resolve conflict using mine” or “resolve conflict using theirs”. If you're not sure what has been changed, duplicate the item and pick “resolve conflict using theirs”. This way you can compare your changes (the duplicated item) against the changes a teammember made.
Also worth looking at: