Yes, depending on the dish. If you are making lasagne for example, you can substitute with just tomato paste. You might want to add more onion and herbs for flavour. If you were going to substitute...
I do this all the time and I put the paste in a pan, add water or wine, stir it until I get the right thickness, keep adding the water/wine until it is right, add any spices I want, a tablespoon of...