Can I Leave Country After Filing H1

Hello,
I am planning to Visit India in March last week / April First week,

If i leave in March last week - submitting all the Documents along with the I94 - will my old I94 still be valid and My H1B application is still valid ?

If I leave in April First week (at this stage my file will reach USCIS) - will my old I94 still be valid and My H1B application is still valid ?

Do I have to submit my new I94 after returning from India in both the above cases.
Please note - I am on L1B currently valid til end of 2015.

Kindly help me to understand the consequences if i take any of the above step.

Regards,
Anusha

You submit the current I-94 copy at the time of petition only, no need to update the USCIS with the updated I-94 after you filed the petition. Only if they ask, you can submit any new updated I-94.

I-94 is to prove that you are legally staying in United States at the time of filing the petition. Thats it.