H1B recapture time for 8th year extension


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Hi,

  I am on 7th year of H1b. The H1b expires on end of october, 13. My existing pending I-140 has been denied in appeal. My employer is proposing to file new PERM in next month. As perm approval will take 5 month from july, hence employer is saying to go out of contry from august. This will enable them to bring me back to the country once perm is approved, I-140 is approved and h1b extn is done. They propose that they will be able to bring me back retaining july priority date. Is this kind of time capturing permitted?

Need your valuable input.

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