Thanks guys, even though it took time for me to update you with this regard.
The main issue as to why I raised this is that I have 1 time dimensions with two hierachies. The first hierachy starts from the first of January and ends on 31 December whereas the other starts from 01 April and it ends on the 31st of March.
The issue here was that the other time dimension hierachy of the two was always showing measured data for only the current month however the other time dimension was always showed the current month.
I couldn't find where the problem was but I ended up re-creating the time dimension(New_Time_dimension).
There were some named_calculations that used members from deleted time dimension(old_time_dimension).
When creating the new time dimension I never used all members from the deleted time dimension and this caused the error posted above.
Instead I found out that the main cause of my problem is the below"
ALTER CUBE CURRENTCUBE
Update DImension [Date].[YearQuarterMonthDay],
Default_Member = StrToMember("Tail(Filter([Date].[YearQuarterMonthDay].[Month Name And Year].members,
Not IsEmpty([Date].[YearQuarterMonthDay].CurrentMember)), 1).Item(0)")
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