Query regarding combined stay on H1 B

My H-1B non-immigrant visa for FY2014 has been approved by the USCIS with validity dates of 10/01/2013 to 11/01/2014. I am not sure why did I get the approval for ONLY 1 year and 1 month, when usually the H1 B petition validity is for 3 years.
I am not sure if this is anyway related to my previous stay in USA for 5 years on L1B visa.

As per my understanding, the combined time spent in US is reset if you have stayed for 1 year outside of the US.
In my case, I traveled back to India on 15th of August 2012, and with this new visa I will travel back to US on or after 1st of October 2013. In this case, I will have stayed for more than an year outside of US, which will result in resetting the combined time counter for H1. So, I should be able to stay for 6 years (with extension) on this approved H1.
I want to know if an extension will be possible with the currently approved H1 B petition.

to get it reset you need to file CAP H1B which you were eligible. you had both options

Hi SnowWinter,
I am not sure I understand your answer. I already filed the application in H1B CAP, and have even got approval. The question is, did the count reset in my case or not.

Answer is that your clock is NOT reset. to reset your clock you need to file a CAP-ed H1B. Hope you have understood this.

The clock is reset when the new petition is filed after staying outside for 1 year. In your case it was filed before you completed 1 year outside US.