Under which of the following circumstances may 'capital gains' arise?1. When there is an increase in the sells of a product2. When there is a natural increase in the value of the property.3. When you purchase a painting and there is a growth in its value due to an increase in its popularity.Select the correct answer using the codes given below:

• A. 1 only
• B. 2 and 3 only
• C. 2 only
• D. 1, 2 and 3