Crossword Genius

On the other hand it's no loss (5)

Ross

I believe the answer is:

again

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'on the other hand' is the definition.
(I've seen this in another clue)

'it's no loss' is the wordplay.
'it's' becomes 'a' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'no loss' becomes 'gain' (I've seen this in other clues).
'a'+'gain'='AGAIN'

Can you help me to learn more?

(Other definitions for again that I've seen before include "Ocne more" , "Predictably perhaps" , "One more time, encore" , "repeat order" , "10 10 [AGAIN" .)

I've seen this clue in The Globe and Mail.
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