4-25.2 states a held ball occurs when an opponent places his/her hand on the ball and prevents an airbourne player from throwing the ball or releasing it on a try.

It is obvious that when a player goes up for a shot and the defender firmly places his hand on the ball and prevents the player from shooting that this is a held ball situation.

What commonly occurs is a player elevates to attempt a shot and the defender reaches in and puts a hand on the ball but does not hold it there, causing the shooter to return to the floor with the ball.

My interpretation on this has been a travel per 4-43.3b. Is this correct or should this be ruled a held ball?

It depends
 

The 2 things that are key is 1) how long/to what degree does the defensive player keep his hand on the ball 2) is there separation between the shooter's hand and ball.

1) If it's just a quick touch, I'm not ruling a jump ball. If the shooter is airborne at the time of the touch he better attempt a shot or pass the ball else I've got a travel. If it's more than a touch and prevents the shooter from continuing his shooting motion, I've got a held ball based on the rule you mention.

2) Separation occurs, I've got a shot, block, recovery and no travel.

My little wish is that everyone, including announcers, would call it a held ball. The jump ball, after the initial one and prior to an OT, went out many years ago (thankfully).

I think you also have to consider the level of play. Older, stronger, more skilled players can certainly be expected to still get a shot off if the defender only briefly touches the ball. Younger, weaker, less skilled players may not be able to. I had one last year in a freshman girls game where I thought at the time she still could have gotten the shot off, so I called the travel. Looking back, I think I was wrong -- I should have called the held ball.