Preheat the oven to 350.
Mix the salt, pepper, smoked paprika, onion powder and garlic powder in a small bowl.
Rub the seasoning all over the chicken breasts.
Pour olive oil in the bottom of a Dutch oven, and heat to med-high. When nice and hot, add chicken to the pan, (in batches if necessary), and cook 2-3 min per side.
Put all the chicken back in the Dutch oven in a single layer. Place uncovered Dutch oven in the oven for 25 minutes or until juices run clear and/or the temperature of the thickest part of the chicken registers at least 165 degrees with an instant thermometer.
Remove the chicken from Dutch oven and set aside on a plate.
Place your Dutch oven on the stovetop over medium heat, whisk heavy cream in to the chicken drippings.
Whisk in your blended Rotel.
Add the basil and shaved cheese and whisk while the mixture comes to a simmer. Continue to simmer until the cheese is melted and the sauce has started to thicken up a bit.
Add chicken back in to the pan and cover it with the sauce then let it all simmer on low for just a couple of mins.
Serve over mashed potatoes or egg noodles. (We love mashed potatoes the best.)