Hi Amar,
I understand that you're taking care of making your SCM and liveCache on target being at least the same version of your source. This is good, because it is the only way it would work (supported).
Now about the restore process, the central note for this is:
886103 - System Landscape Copy for SAP SCM
And for the liveCache part of the copy:
457425 - Homogeneous liveCache copy using backup/restore
For the backup/restore process you can use the Database Studio. Maybe we need to update SAP Note 457425 to put this in context. Thanks for bringing to attention.
Regards,
Luis