Which one of the following statements is incorrect as per the Constitution of India

(A) Laws made by Parliament may have their application even beyond the territory of India

(B) Laws made by the State legislature having extra-territorial application may be valid on the basis of 'territorial nexus'

(C) Parliament has power to make laws in relation to subjects enumerated in the Union List and the Concurrent List

(D) The Concurrent list contains subjects on taxation and hence Parliament as well as State Legislature both have power of taxation under this list.