Whipping out the tobacco companies leads to restructuring in the economy, which has a one off cost. In return, you get permanent returns from getting those resources away from producing consumables which burn in 5 minutes and into something more desirable (grow different things, get factories to make other stuff, transport other goods etc).
Overall, it'd probably be desirable on that front. Bear in mind, you now also need less cigarette lighters, matches, nicotine gums/patches etc. Small but it adds up.
Tax return is a much more tricky issue - tobacco allows governments to make huge profit ripping people for their addiction - which they are broadly happy to pay for.
You can do redistribute the tax over all other goods in the economy with greater weight on similarly addictive and high price elasticity of demand goods.
While economically possible - perhaps desirable - I wouldn't ban it outright anyway. It is a person's choice, especially if it's their own home, their own space etc.