Sharmila, I tried same approach befor
Sharmila,
I tried same approach before and can confirm that this works. Just you have to make sure you enter correct MDX that build unique date member. Here is another similar description how to do that:
http://www.ssas-info.com/analysis-services-articles/54-reporting-services/1527-using-date-parameters-in-reporting-services-reports-built-against-data-cubes