Crossword Genius

Taxi by Welsh lake seen in esoteric lore (7)

Ross

I believe the answer is:

cabbala

'esoteric lore' is the definition.
(mystical tradition in Judaism)

'taxi by welsh lake' is the wordplay.
'taxi' becomes 'cab' (synonyms).
'by' is a charade indicator (letters next to each other).
'welsh lake' becomes 'bala' (Lake Bala is a Welsh lake).
'cab'+'bala'='CABBALA'

'seen in' acts as a link.

(Other definitions for cabbala that I've seen before include "special scripture reading" , "Mystical Jewish Bible interpretation" , "Jewish mysticism" , "Jewish mystical tradition" .)

I've seen this clue in The Times.
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