Version/build fields for an iOS app include:
"Version" CFBundleShortVersionString (String - iOS, OS X) specifies the release versi
Both CFBundleVersion and CFBundleShortVersionString MUST be incremented when releasing a new version to the App Store.
Additionally, one of the strings must must match the version specified in iTunes Connect.

This question includes the above screenshot of the Xcode Organizer's Validator refusing to validate the app when the CFBundleVersion and CFBundleShortVersionString have not been incremented.
This bundle is invalid. The value for key CFBundleVersion [1.0] in the Info.plist file must contain a higher version than that of the previously uploaded version [1.134].
This bundle is invalid. The value for key CFBundleShortVersionString [1.0] in the Info.plist file must contain a higher version than that of the previously uploaded version [1.134].
The validator also throws an error proving that one of the strings must match the version of the app created on iTunes Connect.