Immortalized cell lines, in theory, can be passaged indefinitely. However, using cells at high passage number is not recommended since they may experience phenotypic and population changes due to genetic instability and selection pressures over time.
So, cell passage should be limited to prevent population and genetic drift.
There is no defined maximum number of passages for a cell line, but it is highly recommended to keep passage number low for any cell-based assay for reliable results.
Generally, passage number should be limited to no more than 15-25 for cell-based assays.
I follow the answer provided by Malcolm, just to add that somatic mutation is accumulating through replication process, as to being a cell lines, it is common that the DNA replication fidelity is very low with a higher mutation rate. As an example, our 293T and Raji cells experienced more than four population in SSC/FSC gating from flow cytometry after 2 months of consecutive culture, it was one or two populations in beginning. Somehow, a random polyclonal antibody showed positive stain in a prolong cultured 293T cells but not in the early 293T cells.
And yes, functional cell lines must have a limit passage, but still, each cell lines has different mutation rate and also affecting by environmental factors (e.g., growth medium), thereby, whether not to conduct the next experiment with a 67 passaged cell, the choice lies in you.