Concept:
This question examines the chronology of major rock-cut and sculptural panels from Early Medieval Indian art, particularly from the Chalukya, Pallava, and Rashtrakuta traditions.
Step 1:
Ravanphadi Cave at Aihole belongs mainly to the:
\[
6^{th} \text{ century CE}
\]
under the Early Chalukyas.
Thus, it is the earliest sculpture in the sequence.
Step 2:
The famous relief at Mamallapuram belongs to the:
\[
7^{th} \text{ century CE}
\]
during the Pallava period.
Step 3:
This Pallava relief also belongs to the:
\[
7^{th} \text{ century CE}
\]
and comes after the Gangavataranam panel.
Step 4:
Pattadakal sculptures belong mainly to the:
\[
8^{th} \text{ century CE}
\]
during the Later Chalukya period.
Step 5:
The Ellora Kailashanatha sculpture belongs to the:
\[
8^{th} - 9^{th} \text{ century CE}
\]
during the Rashtrakuta period.
Thus, it is the latest among the given examples.
Therefore, the correct chronology is:
\[
C \rightarrow B \rightarrow E \rightarrow D \rightarrow A
\]
Hence, the correct answer is:
\[
\boxed{\text{(1) C, B, E, D, A}}
\]