Kes
I'll Decide ...
Again you respond with something that is irrelevant in the context of this thread Ben.It isn't incompatible with law. A tackle in the penalty area where the defender is stood up and flicks his toe at the ball is the perfect scenario for using the 'point' signal. The only consideration there is whether the defender has touched the ball or not and therefore its a good communication tool. Nobody is suggesting pointing at the ball when there's been any force in the tackle.
This thread is about the player myth prevailing that "It can't be a foul cos I got the ball Ref!" It's now also about referees using hand signals to explain why a particular challenge (when appealed for by the player(s)) is not a foul ie. "It's not a foul because I'm making this got-the-ball sign".
Getting the ball is not mentioned in law, end of. By suggesting that it's the deciding factor for you not penalising a challenge (which is what you're doing with that hand signal) then you're employing a gesture that it incompatible with the LoTG.
That last bit I've emboldened in your post is because that's exactly what some are saying - and what I've seen referees do myself.