Welcome to the JavaRanch, Shreekanth!
Yes, WAS8 contains its own JSF implementation jars and they can conflict if you include JSF jars of your own in a WAR or EAR. JSF is part of the
JEE standard, so it's normally provided by the container (
Tomcat is an exception, but Tomcat is not a complete JEE implementation).
For best result, I recommend consulting IBM's documentation, as the exact requirements of a deployable depend on the version of WebSphere that you are using. The IBM docs should also contain instructions on how to override the built-in JSF and use your own if that becomes necessary.
The secret of how to be miserable is to constantly expect things are going to happen the way that they are "supposed" to happen.
You can have faith, which carries the understanding that you may be disappointed. Then there's being a willfully-blind idiot, which virtually guarantees it.