The 47-year-old was handed the sanction on Tuesday following an altercation with match officials after Sunday's 1-1 draw with Sampdoria.
Juve swiftly lodged an appeal against the suspension, which would have seen their coach absent from the touchline for Thursday's Serie A clash with Cagliari.
And it was confirmed on Wednesday that Allegri's appeal had been partially upheld.
The former Milan coach will now pay a fine of 10,000, but will be on the Juve bench at Stadio Sant'Elia on Tuesday.
Allegri has been warned as to his future conduct by the Italian Football Federation's appeals court.
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