As soon as you realise that food in a pot placed on a lit stove is burning, use kitchen hot pads to remove the pot from the heat source. This will prevent the burnt taste from permeating all of the food in the pot.
Fill up the sink in your kitchen with cold water just enough to coat the sides of the dish. Before you can do this, you will have to stop water from flowing out of the sink by plugging it.
Carefully place the pot in the sink. Cold water in the sink will immediately drop the pot’s temperature and the cooking process that might still be going on will gradually stop. Make sure that the water does not get into the cooking pot however. Consider running cold water onto the side of the pot if there is no imminent risk of spilling the pot’s contents. Your aim should be to get the bottom of the cooking pan in contact with cold water at least.
Determine the quantity of burnt food in the cooking pot. Avoid scraping out the burnt food because that will spread the foul flavour throughout the dish. Instead, transfer the food that was not burnt to a serving dish with a ladle.
Taste the food again and cover the serving dish in with a large enough piece of damp cloth for about 30 minutes if the smoky flavour still remains. If this does not work, the burnt food has after all gone beyond repair and cannot be saved.