Is there an upper limit for the distance of the image from the lens? If yes, then what is that value? Why?

Answer 1

No, if you assume ideal conditions i.e. vacuum, and the lens is perfectly shaped.

Yes, if you assume a real atmosphere that absorbs and retransmits light and also may have particles (smog, dust, haze) which interfere with light transmission.
It's going to be impossible to construct a perfectly-shaped lens at the molecular level anyway - it can only ever be an approximation to the desired curve - but that is probably less important than the atmospheric effects.

You could make your question more clear if you specify the limiting parameter you're interested in - minimum light flux, image distortion, angular resolution by the lens etc.

And if you're talking about imaging or photography or a telescope, there's a minimum light flux in photons/um^2 for film, CCDs or any other sensor. Or indeed your eye. So practically speaking, there will always be a limit.

A further possible limiting effect might be singularities in the light source, which depends on whether it came from incandescent, laser or multiple sources.