Not shouting "I didn't call you a black ****" across the pitch. That's offensive. That's even if you believe his version of events.
Disagree, if someone goes did you call me fat or something i'd say 'I didn't call you fat', not I didn't call you that. I can see me doing the same thing back and it isn't offensive repeating that.
That said I don't believe Terry but no conclusive evidence so can't really slam him as racist when the same thing happened with Suarez except less evidence of course.