Shortly after his introduction into the match, Balotelli appeared to back-heel the Spurs midfielder on the head while he lay on the floor.
However referee Howard Webb only awarded the striker a yellow card and to make matters worse for Redknapp, the Italian scored the winning goal with a penalty four minutes into added time.
"Balotelli has kicked Scott Parker in the head purposely. He's back-heeled him in the head. I don't know why you would do that on a football pitch. It's there for everybody to see," said Redknapp.
"It was a great comeback from us and we showed character. From then on I could see us winning it. But that's football - that's the way it goes. It was a great game for the fans. But we're disappointed."
Spurs now sit in third position, eight points behind league leaders City.