X has caused wrongful loss to Y by depriving him of his property that is his watch without his permission and by unlawful means. X has also caused wrongful gain to himself by transferring the watch to himself to which he has absolutely no legal entitlement. Gain and loss may not only mean monetary gain or monetary loss, non-enjoyment of the property or unlawful enjoyment of the property are also examples of wrongful loss and wrongful gain.