Holding by the return team

Question
If the receiving team is called for holding before the ball is caught by the return man is the penalty assessed from the spot the ball was returned to or where the receiver caught the punt. i beleive its from the spot where the punt is caught but it was not done that way in the Purdue vs W. Illinois game

Answer
Gary
I have not seen the play.  The enforcement spot for Holding by the return team on a kick play depends on several things:
Was it a Free Kick or Scrimmage Kick?
Was the hold during the loose ball [while kick was in flight]?
Was the hold during the return?
Where did the hold occur in relation to the Line of scrimmage, the ball and the catch?
Was this one continous hold or was there broken intervals of holding...?
Who ends up with the ball at the end of the play?

Based on your question: this was a punt [scrimmage kick play] so the enforcement spot will be the basic spot/previous spot or post scrimmage kick enforcement spot(PSK).  The hold occurs during the kick/loose ball, before it is caught.

If the hold was done by th ereturn team more than 3 yards from th eline of scrimmage during the kick and the return team maintains possession at the end of the down, then the enforcement spot is the PSK spot where the kick ended and the catch was made.   If the hold was within 3 yards during the kick or if the return team did not end up with the ball in team possession at the end of the down, then it is enforced from the previous spot (where the ball was snapped from). If the hold was during the return then the basic spot principles apply and it depends where the hold occured in relation to where the run ended after the catch.