Step 1: Understand potato tuber.
Potato is a modified underground stem.
It is not a modified root.
The tubers of potato develop from underground stem branches called stolons.
Step 2: Check the given statement.
Option (4) says that in potato root tips bulge into tubers.
This is incorrect because potato tubers are stem tubers, not root tubers.
Step 3: Verify other statements.
Leaves are absent in Taeniophyllum, which is a leafless orchid.
In Fabaceae, root nodules contain nitrogen-fixing bacteria.
In onion, the fleshy part is formed by leaf bases, while the stem is reduced and discoid.
Step 4: Final conclusion.
Hence, the incorrect statement is
\[
\boxed{\text{In potato root tips bulge into tubers}}
\]