Timeout, inadvertent whistle situation

[Raymond]

Originally Posted by jTheUmp

Happened to me in a game last night:

I'm the lead.
H makes a two-point shot.
V1 inbounds the ball to V2.
V HC requests a timeout. My partner glances at the coach, acknowledges the timeout request. At the same instant, H3 steals the ball from V2.
Partner blows his whistle for V's timeout, after the ball is clearly in H3's possession.

We end up not granting V's timeout request, and grant H a throw-in.

Two questions:
1) Did we screw this up?
2) After the inadvertent whistle, could V have been granted a timeout before H's throw-in?

Once he blew the whistle and killed the play the TO is granted. I'll leave who should get the ball to your collective judgement. But not granting the time-out was incorrect.