Getting 404 while migrating from JSF 1.1 to JSF2.0

Hi, we are migrating our web application from JSF 1.1 to JSF 2.0 but while accessing the application using context root getting 404 error.
web.xml contains:

<?xml version="1.0" encoding="UTF-8"?>
<web-app xmlns="http://java.sun.com/xml/ns/javaee" 
		 xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" 
		 xsi:schemaLocation="http://java.sun.com/xml/ns/javaee http://java.sun.com/xml/ns/javaee/web-app_2_5.xsd" 
		 version="2.5">
	<context-param>
		<param-name>javax.faces.STATE_SAVING_METHOD</param-name>
		<param-value>server</param-value>
		<description>JSF state saving method (client/server)</description>
	</context-param>
	<context-param>
		<param-name>javax.faces.DEFAULT_SUFFIX</param-name>
		<param-value>.jsp</param-value>
	</context-param>
	
	<context-param>
		  <param-name>javax.faces.FACELETS_VIEW_MAPPINGS</param-name>
		  <param-value>*.xhtml</param-value>
	 </context-param> 
	<context-param>
	    <param-name>javax.faces.FACELETS_SKIP_COMMENTS</param-name>
	    <param-value>true</param-value>
	</context-param>
	<context-param>
	        <param-name>org.richfaces.SKIN</param-name>
		<param-value>blueSky</param-value>
	</context-param>
	<filter>
		<filter-name>MyFacesExtensionsFilter</filter-name>
		<display-name>MyFacesExtensionsFilter</display-name>
		<description>Handles requests to MyFaces Tomahawk components.</description>
		<filter-class>org.apache.myfaces.webapp.filter.ExtensionsFilter</filter-class>
		<init-param>
			<param-name>uploadMaxFileSize</param-name>
			<param-value>20m</param-value>
		</init-param>
		<init-param>
			<param-name>uploadThresholdSize</param-name>
			<param-value>100k</param-value>
		</init-param>
	</filter>
	<filter-mapping>
		<filter-name>MyFacesExtensionsFilter</filter-name>
		<url-pattern>*.jsf</url-pattern>
	</filter-mapping>
	<filter-mapping>
		<filter-name>MyFacesExtensionsFilter</filter-name>
		<url-pattern>/faces/myFacesExtensionResource/*</url-pattern>
	</filter-mapping>
	<listener>
		<listener-class>org.apache.myfaces.webapp.StartupServletContextListener</listener-class>
	</listener>
	<servlet>
  		<servlet-name>Faces Servlet</servlet-name>
  		<description>Handles Java Server Faces pages.</description>
  		<servlet-class>javax.faces.webapp.FacesServlet</servlet-class>
  		<load-on-startup>1</load-on-startup>
  	</servlet>
	
	<servlet-mapping>
  		<servlet-name>Faces Servlet</servlet-name>
  		<url-pattern>*.jsf</url-pattern>
  	</servlet-mapping>
	<welcome-file-list>
		<welcome-file>index.html</welcome-file>
	</welcome-file-list>
	<error-page>
		<error-code>404</error-code>
		<location>/error.jsp</location>
	</error-page>
	<error-page>
		<error-code>500</error-code>
		<location>/error.jsp</location>
	</error-page>
	<security-constraint>
		<display-name>ITMContraint</display-name>
		<web-resource-collection>
			<web-resource-name>Everything</web-resource-name>
			<description></description>
			<url-pattern>/index.html</url-pattern>
			<url-pattern>/itm/*</url-pattern>
			<http-method>GET</http-method>
			<http-method>PUT</http-method>
			<http-method>HEAD</http-method>
			<http-method>TRACE</http-method>
			<http-method>POST</http-method>
			<http-method>DELETE</http-method>
			<http-method>OPTIONS</http-method>
		</web-resource-collection>
		<auth-constraint>
			<description>ITMContraint</description>
			<role-name>ITMOperator</role-name>
		</auth-constraint>
	</security-constraint>
	<login-config>
		<auth-method>FORM</auth-method>
		<form-login-config>
			<form-login-page>/login.jsp</form-login-page>
			<form-error-page>/loginerror.jsp</form-error-page>
		</form-login-config>
	</login-config>
	<security-role>
		<description>ITM security role</description>
		<role-name>ITMOperator</role-name>
	</security-role>
</web-app>

in index.html the page is redirected to jsf page using javascript function on load event as:

In console following error message is getting printed:

Statuscode: 404
Request-URI: /ITM/itm/web/Content/Content.jsf
Servletname: Faces Servlet
Exception: com.ibm.ws.webcontainer.webapp.WebAppErrorReport: SRVE0295E: Error reported: 404
com.ibm.ws.webcontainer.webapp.WebAppErrorReport: SRVE0295E: Error reported: 404
at com.ibm.ws.webcontainer.webapp.WebAppDispatcherContext.sendError(WebAppDispatcherContext.java:624)
at com.ibm.ws.webcontainer.webapp.WebAppDispatcherContext.sendError(WebAppDispatcherContext.java:642)
at com.ibm.ws.webcontainer.srt.SRTServletResponse.sendError(SRTServletResponse.java:1235)
at com.ibm.ws.webcontainer.srt.SRTServletResponse.sendError(SRTServletResponse.java:1209)
at javax.servlet.http.HttpServletResponseWrapper.sendError(HttpServletResponseWrapper.java:137)
at javax.servlet.http.HttpServletResponseWrapper.sendError(HttpServletResponseWrapper.java:137)
at org.apache.myfaces.application.jsp.ServletViewResponseWrapper.sendError(ServletViewResponseWrapper.java:52)
at org.apache.myfaces.context.servlet.ServletExternalContextImpl.dispatch(ServletExternalContextImpl.java:360)
at org.apache.myfaces.view.jsp.JspViewDeclarationLanguage.buildView(JspViewDeclarationLanguage.java:94)
at org.apache.myfaces.shared_impl.view.JspViewDeclarationLanguageBase.renderView
(JspViewDeclarationLanguageBase.java:130)
at org.apache.myfaces.application.ViewHandlerImpl.renderView(ViewHandlerImpl.java:263)
at org.ajax4jsf.application.ViewHandlerWrapper.renderView(ViewHandlerWrapper.java:108)
at org.ajax4jsf.application.AjaxViewHandler.renderView(AjaxViewHandler.java:216)
at org.ajax4jsf.application.ViewHandlerWrapper.renderView(ViewHandlerWrapper.java:108)
at org.ajax4jsf.application.AjaxViewHandler.renderView(AjaxViewHandler.java:216)
at javax.faces.application.ViewHandlerWrapper.renderView(ViewHandlerWrapper.java:59)
at org.ajax4jsf.application.ViewHandlerWrapper.renderView(ViewHandlerWrapper.java:108)
at org.ajax4jsf.application.AjaxViewHandler.renderView(AjaxViewHandler.java:216)
at org.apache.myfaces.lifecycle.RenderResponseExecutor.execute(RenderResponseExecutor.java:85)
at org.apache.myfaces.lifecycle.LifecycleImpl.render(LifecycleImpl.java:239)
at javax.faces.webapp.FacesServlet.service(FacesServlet.java:191)

I am running this on Websphere 8 and I have <my-project>/resources/itm/web/Content/Content.xhtml located in my IRAD project.
Any help is appreciated.
Thank you.