The painting of Bodhisattva Padmapani is one of the most famous and oft-illustrated paintings at

1. The painting of Bodhisattva Padmapani (the Bodhisattva holding a lotus) is one of the masterpieces of Indian art. 2. This specific painting is most famous and prominently located in Cave 1 of the Ajanta Caves in Maharashtra. 3. It is frequently illustrated in books and discussions about Ajanta's art and Buddhist iconography. 4. While Badami, Bagh, and Ellora are also significant sites with ancient Indian art (murals or sculptures), the iconic painting of Bodhisattva Padmapani is distinctively associated with Ajanta. 5. Therefore, Ajanta is the correct answer.