[Ref in PA]

Interesting debate. .3 seconds on the clock. NFHS rules.

A1 catches the inbounds pass and starts his shooting motion which the referee knows the made basket cannot count by rule because of insufficient time. However, B1 immediately fouls A1.

So to recap the play you have:

1. inbounds catch by A1;
2. A1 begins shooting motion;
3. B1 fouls A1;
4. Ref recognizes the foul;
5. Whistle blows;
6. Horn blows; (5 and 6) could be in reverse order)
7. A1 releases shot;
8. Ball goes in.

The call I will sell:
1. Cancel basket - release was after the horn. By definition you do not have enough time catch and shoot.
2. Since the foul by B1 was recognized before time expired you would penalize the foul.
3. A1 was in the act of shooting a shot, therefore, clear the lane and A1 shoots 2 (or 3 if behind the arc).