Statement 1 is incorrect. The Ajanta caves are primarily associated with Buddhism, featuring paintings and sculptures depicting the Jataka tales (stories of the Buddha's previous lives) and scenes from his life. Statement 2 is correct. The Kailasa Temple (Cave 16) at Ellora is a monumental monolithic rock-cut temple dedicated to Shiva and is widely considered the most outstanding architectural achievement among the Ellora caves. Statement 3 is correct. The Ajanta caves were built over a considerable period, dating from roughly the 2nd century BCE (Satavahana period) to the 5th-6th centuries CE (Vakataka period), involving different phases of construction and patronage by various rulers over about eight centuries.