Atlantic 10 Commissioner Charlie Theokas yesterday restored West Virginia's controversial 51-50 basketball victory over St. Joseph's.

Theokas cited a rule that says the referee's approval of the score at the end of the game terminates the jurisdiction of the official. He said when the referee ruled Lester Rowe's dunk good and left the floor, the game was over.

The Mountaineers appeared to have won, 51-50, Saturday in Philadelphia on Rowe's dunk at the buzzer. But five minutes later, with West Virginia celebrating the outcome in the locker room, game officials negated the basket, giving St. Joseph's a 50-49 victory. West Virginia officials then asked Theokas to review the call.

Theokas said he didn't review tapes of the final shot because the call itself wasn't at issue. What was at issue, he said, was the referees' delay in making a final decision. "The fact of whether the ball went in the basket in time when the buzzer went off really is not any of my concern," Theokas said. "I don't think you can take two points off the scoreboard when you're in the locker room." . . .

Outland Trophy winner Bruce Smith of Virginia Tech withdrew his suit against the NCAA in circuit court at Christiansburg, Va. The suit had been filed in connection with the NCAA's ruling Smith ineligible for the Dec. 15 Independence Bowl.

Smith's action leaves open the possibility of the NCAA's imposing sanctions against Virginia Tech, which had obtained a temporary injunction against the NCAA that allowed Smith to play. Virginia Tech had sought a permanent injunction, but Judge Kenneth I. Devore called the case moot, since Smith had actually played in the game . . .

A University of Georgia alumnus admitted he violated NCAA recruiting regulations by arranging a car loan for Tyrone Sorrells of Buford, Ga., after Sorrells agreed to play football for the Bulldogs.

Sorrells, who transferred to Georgia Tech and will be eligible to play there next fall, said after Georgia was placed on probation by the NCAA on Friday that a representative of Georgia's athletic interests helped him get a $900 loan to buy a car in 1982.