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AvaniAnand - I will guess that the date you are trying to parse is coming from a database - likely DB2. Some databases don't return the date object as expected to SnapLogic and causes confusion when trying to process the data. My recommendation is to format the date as a string in your query (e.g. TO_CHAR(dateval, 'YYYY-MM-DD') as dateval). Then if you need to manipulate the date in SnapLogic, you can use Date.parse() then apply your value changes.
Hope this helps!