Solaris

I have a oracle instance running in NGZ which is on zfs dataset. Is there any possibility if i can take a zfs snapshot without shutting down the zone and then restore the zfs on other server and start oracle .. will the data be fine or not ?

ZFA snapshots are readonly. That means Oracle cannot update the snapshot.
Oracle supports readonly tablspaces, but these are purely internal to Oracle.

So, no.

Not only snapshots can't be written to but also ZFS pools can't be mounted more than once. I guess the OP want to send that snapshot to another server and then clone it to be used as regular read-write filesystem.

Back to the subjet, that kind of "backup" strategy should generally work but is quite risky with a database. What you are suggesting is exactly the same as asking if an application can recover from an abrupt power off (or a kernel panic). It might or it might not, and a database is probably more prone to data corruption than many other given the fact inconsistencies that might happen when a write operation is interrupted in the middle.
If you can stop the database, there is no doubt this will work. If you want to leave the application running, you should ask your DBA about how to properly hot-backup your configuration. Something like "being backup" or "archivelog" mode might help there.