After speaking to the Spurs medical staff, referee Antonio Mateu Lahoz allowed Vertonghen to return to the pitch but he soon had to be substituted.
"Following a thorough review over the past 48 hours by our medical staff as well as by an independent neurologist with special interest in sport-related concussion today, it has been concluded that Jan Vertonghen did not suffer a concussion," Spurs said in a statement.
"The Belgium defender suffered an injury to his nose due to a challenge during the game which resulted in heavy bleeding.
"He was deemed fit to continue playing after an on-field assessment. All Football Association concussion guidelines were followed."
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Vertonghen was withdrawn after the he informed the medical staff the he was struggling to stand up. The club has been advised that this was "the result of a presyncopal episode, a near faint".
"The specialist has recommended that the player undertakes a brief period of rehabilitation before returning to training," the club added.
Spurs face Bournemouth in the Premier League on Saturday before they look to overturn a 1-0 deficit at Ajax in the return leg of the Champions League semi-final on Wednesday.
(Reporting by Hardik Vyas in Bengaluru, editing by Ed Osmond)
