To address the question of the recommended values of maximum return periods for constructing different soil and water conservation structures, we need to understand the concept of these return periods and how they apply to each type of conservation structure. The return period is crucial because it indicates the frequency with which a particular structure must withstand adverse conditions, such as heavy rainfall or flooding.

Let us evaluate the options and the reasoning behind selecting the correct hierarchy, A > B > E > D > C:

1. Storage and Diversion Dams with Permanent Spillways (A): These structures are designed to handle large volumes of water and are often critical to preventing flooding or managing water resources over large areas. Hence, they require the highest return period to ensure they are robust against extreme events. This places them at the top of the hierarchy.
2. Earthen Dams with Storage Having Natural Spillways (B): These also handle considerable amounts of water and are vital for water management. However, they are generally less secure than those with permanent spillways. As a result, they have a slightly lower return period than (A) but still need to be very reliable.
3. Dams for Stocking Water (E): These are smaller compared to dams with spillways but need a considerable return period to ensure they function effectively in their role in water management and storage.
4. Field Diversion (D): These structures are typically smaller and manage local water diversion to prevent field damage. Their return period requirements are lower compared to dams, as they deal with lesser volumes of water.
5. Terrace Outlets and Vegetated Waterways (C): These structures deal with routine water runoff management and erosion control on agricultural lands, making them less critical; hence, they have the lowest return period.

The correct answer is A > B > E > D > C, as it correctly aligns with the recommended values of maximum return periods required for the safe and effective operation of each type of water conservation structure in order of their significance and vulnerability to adverse weather events.