Repeal and saving: repeal preserves accrued tax liabilities and enables continuation of investigations, assessments and recovery. The Act repeals specified State taxation enactments but preserves existing rights, obligations and liabilities and allows imposition and recovery of taxes, surcharges, penalties, fines, interest, forfeitures and punishments and continuation of investigations, assessments, adjudications and appellate proceedings as if the earlier Acts remained in force; investment-linked tax exemptions cease if rescinded on or after the appointed day, and the general effect of repeal under the General Clauses Act remains applicable.