actually the brits kept the rifling so they could fire HESH rounds. why i've never figured out. the usual claim is light vehicles and buildings, but if you are sending your MBT's after trucks and buildings you are doing a lot of things wrong. especially since a 120mm HESH round is major overkill. and HESH is useless against heavily armored targets.
and the rifling degrades the performance of APFSDS and HEAT rounds.
I think the issue was one of doctrine or faith/confidence in HEAT versus HESH.
Honestly, I don't understand it but wonder if it might be a hold-over from the issues with British tank experiences in WW2, not only with the armament compromises but also the relative lack of tank-on-tank engagements and extensive use of tanks against hardened fighting positions etc in support of infantry. Don't forget the division into Infantry and Cruiser tanks persisted well into WW2 for the British tank arm.
Given the upgrade of main armament (L/11 to L/30) and plan to completely replace Challenger 1 with Challenger 2, I am not sure why Challenger 2 didn't use a smoothbore instead of the L/30 although the headline of the longest tank-on-tank kill which was with HESH (I think) from a Challenger 1 may have had an impact in the decision.
Honestly, after that it looks as though it has been a cost issue since then as there was a Challenger 2 trialled with a 120mm smoothbore from Rheinmetall but it would need a complete turret redesign as the ammunition is one-piece rather than the L/30's two (actually three) piece ammunition.