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 the modern thinkers certainly need a consensus on arriving at the 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 unmanifest reality. The present work attempts to establish the valid tones of a sound philosophy of Advaita Vedanta at its best.