The SFA issued a notice of complaint alleging four rule breaches over the banner relating to Rangers, which appeared in the Celtic support in the July 24 contest in Glasgow.
The SFA charges alleged Celtic had fallen foul of the rules by failing to prevent supporters from bringing the banner into the ground and displaying it.
The club were also accused of failing to deal effectively with an instance of unacceptable conduct "by allowing spectators to retain possession of the banner after it had been initially displayed, which allowed them to display the banner on a second occasion during the above match."
The banner in question is understood to have featured a gunman shooting a zombie-like figure next to a gravestone with a Rangers crest on it, as supporters mocked the impending liquidation of the Ibrox club.
However, the SFA has cleared the Parkhead club of all four charges relating to rules 26, 28, 31 and 32.