Under which of the following circumstances may 'capital gains' arise?
1. When there is an increase in the sells of a product
2. 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:
1
1 only
2
2 and 3 only
3
2 only
4
1, 2 and 3