Under which of the following circumstances maycapital gainsarise?1. When there is an increase in the sales of a product2. When there is a. natural increase in the value of the property owned3. When you purchase a painting and there is a growth in its value due to increase in its popularitySelect the correct answer using the codes given below :

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