Receivers/Amps have a maximum 'rail voltage' they are capable of producing. If you look at the specs for an amp it will often say something along the lines of '1 Vrms for maximum output' - meaning if it is fed 1V and its maximum gain is used, it will produce its rated output power.
Now if you use a source component that outputs 2 V and the gain on the amp were set to its maximum, then when the volume control is turned up near its maximum, the amp will clip. [The rail voltage will always swing between 0 and its max - the gain control of the amp in combination with the volume control of the pre-amp is what allows the voltage to be between 0 and max]. So as Jaxvon said, gain controls are provided to deal with those situations or when each channel requires slightly different gain settings to balance the sound from each channel.
One thing to remember to help visualize this is that the volume control does not actually 'turn up' the volume as you increase it. In reality, a volume control is an attenuator and the further you turn it up, the less it attenuates the signal. When it is at its max, the full 1V or whatever it is of the source component is sent to the amp and the amp applies its gain setting to get to the final output power.