Purdont/Texas ball hit rim, no shot clock reset-why?

[Tee]

According to the announcers (for whats that is worth), the ruling is that the ball hit the rim, but the officials did not consider it a shot.

With about two seconds left on the shot clock the ball was loose under the basket- it was tipped by the offensive team and hit the lower front of the rim- stayed loose until the shot clock expired.

The officials reviewed it on the video, and called it a shot clock violation.

Is this correct?