The idea of Corporate Social Responsibility (CSR) has come in the forefront both theoretically and practically by having a great attention on the discussing issues within the boundary of business ethics. It is one of the emerging issues rooted in business ethics but more in precise than that of. Academically this notion introduced probably in 1970 in USA. It illuminates that corporations existing in a society naturally have some influences of social rules and regulations in its decisions and activities which produce some obligations and duties for corporation towards the affected groups of that community in return. Generally, CSR holds that corporation has some responsible role to play on social grounds but where in philosophically CSR is an approach to justify those responsibilities on some ethical grounds following some moral standards. Focusing on this issue, the current study is an attempt to examine and evaluate some prominent theories of CSR and to identify their scope and limitations.