In a large saucepan, combine tomato juice, undrained garbanzo beans, water, potato, lentils, carrot, bacon pieces, onion, chili powder, and the bouillon granules. Bring to boiling. Reduce heat. Cover and simmer about 30 minutes or until lentils are tender.
Spoon into bowls. Top with sour cream or cheese and sprinkle with snipped chives, if desired. Serve with tortilla chips, if desired. Makes 4 servings.