By Daniel Oriloye - Italy's highest sporting court says the case should be re-examined after Juve were accused of fixing balance sheets by artificial gains from transfers.
The lifting of the points deduction means Juventus move up from seventh to third in the Serie A table.
Rather than Juve being cleared, the case will now return to the Italian Football Federation appeals court, the body which gave the initial punishment.
As a result of the decision, with eight games to go in the season, AC Milan are knocked out of the Champions League places while Roma drop to fourth.
Tottenham managing director of football Fabio Paratici lost his appeal against a 30-month ban as part of the same proceedings.
The former Juve sporting director was one of 11 directors at the club, either former or still in place at the time of the ruling, who were sanctioned.
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