Under which of the following circumstances may ‘capital gains’ arise ? 1. When there is an increase in the sales of a product 2. When there is a natural increase in the value of the property owned 3. When you purchase a painting and there is a growth in its value due to increase in its popularity Select the correct answer using the codes given below:
Options
(a)1 only
(b)2 and 3 only
(c)2 only
(d)1, 2 and 3
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