The above mentioned Arabic-English Lexicon...
The above mentioned Arabic-English Lexicon, part one, page 121 explains the phrase / 'ahlul-kitab / thus: ‘(the people of the Scripture, or Bible; and) the readers, or reciters, of the Mosaic Law, and of the Gospel.' Apparently, all the adherents of the prophets who had revealed Books, the clearest example of whom are Jews and Christians, may be called 'the People of the Book’.
"Thereafter, you turned back, and had it not been for the Grace and Mercy of Allah on you, you had certainly been among the losers," Hold the Signs of Allah Firmly!
In these verses, the subject of taking a covenant from the Children of Israel for the practicing of the contents of the Turah and, then, breaching that covenant, is pointed out, At first it says: "And (remember) when We made a covenant with you, and raised the Tur (Mountain) above you; ", "…(saying): ‘Hold you fast that which We have given you with the strength, " ",and remember all that is therein (to do accordingly); haply you shall guard yourselves (against evil)'," But you people neglected your covenant.
**"** Thereafter, you turned back," "..and had it not been for the Grace and Mercy of Allah on you, you had certainly been among the losers," The objective of the covenant, here, is the same that has been mentioned in verse 40 of the current Surah and what is in verse 83 and 84, which will be discussed later.