In a large skillet, brown the chicken in butter and oil over medium heat until evenly browned on all sides.
Add chopped onion, green pepper, minced garlic, basil, salt, and pepper.
Stir and cook until the onion is soft but not brown (approximately 5 minutes).
Add undrained tomatoes and stir well.
Bring to a boil, cover, and simmer over low heat for 20 minutes, stirring occasionally.
Add tomato juice, chicken broth, or water and simmer for an additional 10 minutes.
Remove the chicken to a serving dish and spoon the flavorful sauce over it.
Garnish with mushroom slices if desired