Step 1: Recall the oxidation of chloroform.
Chloroform \((CHCl_3)\) undergoes slow oxidation in the presence of atmospheric oxygen and sunlight.
The reaction is
\[
2CHCl_3 + O_2 \xrightarrow{\text{light}} 2COCl_2 + 2HCl
\]
Step 2: Identify the product formed.
The compound
\[
COCl_2
\]
is known as phosgene.
Phosgene is a highly poisonous gas.
Step 3: Explain the practical significance.
Since chloroform slowly produces toxic phosgene on exposure to air and light, it is stored in dark-colored bottles.
A small amount of ethanol is usually added to destroy any phosgene formed during storage.
\[
COCl_2 + C_2H_5OH \rightarrow \text{harmless products}
\]
Step 4: Final conclusion.
Therefore, chloroform is oxidized by air in the presence of light to form
\[
\boxed{COCl_2}
\]
which is phosgene.
Hence, the correct option is (1).