The answer is - yes
Smell is directly related to the nose / Infection causes damage to the membrane and hence the problem / it will return shortly.
Taste - flavour - is influenced by factors other than the tongue / especially smell. that is why food does not appear to taste well during a 'cold
Since there seems to be no obvious factor to continue / no suggestions for complications / improvement of other factors and so on - you will regain your taste and smell