The limit may be different from different directions.
eg. Unit step function
[tex]
u(x-x_0)=<br />
\begin{cases} <br />
0 \; : \; \; x \leq x_0,\\<br />
1 \; : \; \; x > x_0 \<br />
\end{cases}[/tex]
(edit: TeX redone thanks spamiam xD )
thus:
[tex]\lim_{x \rightarrow x_0}{u(x-x_0)}[/tex]
... is either 0 or 1 depending on which direction you approach it from.
(Though, in this case, the function is defined for x=x0, sometimes the function is not defined at the limit but well-behaved on either side of it.)
So the general answer to your question is that we take left and right-hand limits to investigate the behavior of a function on either side of the limit.