The Ruzhiner Rebbe zy”a writes that the words “l’Olah l’Minchah ul’Chatas ul’Asham” are hinting to two ways that one can learn Torah. “L’Olah l’Minchah” refers to Torah which is learned l’shmah, with pure and holy intentions. Such Torah rises Above like an Olah and is comparable to a Minchah in that it provides pleasure to Hashem. “L’Chatas l’Asham” refers to Torah that is learned shelo l’shmah, with intentions to receive honor or to disparage the Torah. Such Torah is sinful and will lead to a bad outcome.
Torah that Does Not Lead to Gaivoh:
Sefer Yesod Ha’avodah explains the pasuk of “Zos HaTorah...” to mean that when one learns Torah “as an Olah”, meaning that his intentions are l’sheim Shomayim, it will be “L’Minchah” – it will be beloved and desired by Hashem. “L’Chatas ul’Asham” – but when is Torah considered sinful and damaging? “L’miluim” – when it leads a person to become full (“malei”) of haughtiness. When Torah leads to gaivoh, it is not desired by Hashem.
