Here is another method using .loc
to replace inf with nan on a Series:
s.loc[(~np.isfinite(s)) & s.notnull()] = np.nan
So, in response to the original question:
df = pd.DataFrame(np.ones((3, 3)), columns=list('ABC'))
for i in range(3):
df.iat[i, i] = np.inf
df
A B C
0 inf 1.000000 1.000000
1 1.000000 inf 1.000000
2 1.000000 1.000000 inf
df.sum()
A inf
B inf
C inf
dtype: float64
df.apply(lambda s: s[np.isfinite(s)].dropna()).sum()
A 2
B 2
C 2
dtype: float64