Chief Justice of India Justice SH Kapadia has said that loss is a matter of fact and profit and gain is a matter of opinion. He said, a number of controversies on valuation are discussed today, but the basic principle of valuation is that loss is a matter of fact and profit is a matter of opinion. Without making any direct reference to the controversies over the CAG reports on presumptive losses in the 2G spectrum allocation, Justice Kapadia said, apply this test on the controversy going on. He was addressing an international conference on Economic Growth and Changes of Corporate Environment in Asia in New Delhi yesterday. Justice Kapadia also lauded Prime Minister's address to the nation on Friday on the economic situation in the country. The Chief Justice said, the community needs to be educated as to whether higher commodity prices are more inflationary than higher fiscal deficit due to under recoveries. He said, the government has to balance for example inflation versus growth.