In a 2-quart saucepan, heat the water and salt to boiling; stir in the polenta; reduce heat. Simmer uncovered for 5 to 7 minutes, stirring frequently, until thickened. Stir in 1 cup of cottage cheese; heat through. Remove from heat; cover and set aside.
Meanwhile, in a large nonstick skillet, heat the oil over medium heat. Cook and stir the onion, bell peppers and garlic for 3 minutes; stir in the tomatoes, seasoning and spinach. Cook and stir for 1 minute, just until the spinach brightens in color.
Divide the polenta onto 4 dinner plates. Top with the spinach mixture. Wipe out the skillet. Add the remaining cottage cheese to the skillet. Heat the cottage cheese over low heat just until warmed.
Spoon the warmed cottage cheese over the spinach mixture. Sprinkle each serving fresh with basil.