Henry Cousens, followed by most later writers, believed that it was originally a Buddhist temple, however in 1957 M. S. Mate disputed this view.

[1] The temple is original in that it was initially based on a free-standing apsidal structure, now located at the back of the building, which is characteristic of early Buddhist apsidal caityagriha designs.

[2] A stone image of Trivikrama probably dates to the early Chalukyas.

[3] The front of the apsidal temple is decorated with a chaitya-arch, similar to those found in Buddhist rock-cut architecture.

The legend behind the deity Kapoteswara is the story of Sibi in Mahabharata which also occurs in Sibi Jataka[4] The Trivikrama Temple is considered as the oldest standing structure in Maharashtra.