Few will dispute the fact that Sri Sankara, the most exciting philosopher of Advaita Vedanta has no clear-cut answers to the problem of reality. The shifting focus and emphasis on the various philosophical issues cited in the original exegetics of Sri Sankara by modern thinkers certainly need a consensus on arriving at a meaningful and purposeful understanding of the true nature of reality. The concept of Adhyasa in its three variants has to be asserted from the non-contradictory ground of reality. In this context, there is a need to differentiate between 'mere appearance' and the 'actual appearance' or the un-manifestation of reality. The present work attempts to establish the valid tones of a sound philosophy of Advaita Vedanta at its best.