Concept:
Ancient Indian art theory discusses painting, iconography, proportion, colour, expression and artistic principles.
One of the important ancient sources for painting theory is Chitra Sutra.
Step 1: Understand the word Chitra.
The word Chitra means painting, picture or visual representation.
Therefore, an ancient text related to painting may contain the word Chitra.
Step 2: Identify the correct treatise.
Chitra Sutra is an important ancient Indian treatise related to painting.
It discusses principles of painting, forms, expression and artistic methods.
Step 3: Final conclusion.
Thus, the ancient Indian treatise on painting is:
\[
\boxed{\text{Chitra Sutra}}
\]
Hence:
\[
\boxed{\text{(B)}}
\]