(3)If in opinion of the Collector or the permanent Settlement Officer, as the case may be, the value of any land in any holding is altered in consequence of its diversion from an agricultural purpose to a nonagricultural purpose or from non-agricultural purpose to an agricultural purpose since it was last assessed the assessment shall be liable to be revised and the rent thereof shall be liable to be fixed by the Collator or the permanent Settlement Officer with reference to the altered value of such land in accordance with rules made under this Act.
