Hutton appeared to deny Nenad Milijas a clear goalscoring opportunity when he pulled him back inside the box at the end of the first half. Referee Mark Halsey awarded a penalty but chose to only to yellow card Hutton.
Redknapp revealed he had not seen a re-run of the incident, but when informed by the media what had occurred, he said: "I haven't looked at the video. But, if he pulled his arm, it must be a clear goalscoring opportunity. He is very lucky not to get sent off then."
Wolves were also aggrieved to have a Richard Stearman effort ruled out for a foul on Spurs keeper Heurelho Gomes.
But Redknapp claimed: "I thought that was a foul. He was looking at Gomes and not the ball."
Jermain Defoe netted his first and second Barclays Premier League goals of the season, with Roman Pavlyuchenko also on target.
Two-goal Kevin Doyle and a late header from Steven Fletcher earned Wolves a share of the spoils. But the big positive for Redknapp was the return of Gareth Bale who has been sidelined for six weeks with a back problem.
He is in line to start against AC Milan in Wednesday's Champions League clash if he suffers no response to a slight groin niggle.
Redknapp said: "When Gareth came on and started to run with the ball, it was exciting. We've missed that for the last five or six weeks.
"Hopefully he'll be okay for the Milan game and he seems all right after the game. He just felt the pitch was a bit heavy and his groin was a bit tight."
Source: PA
Source: PA