The Swede was handed a three-game ban after he was sent-off against Fiorentina for swearing at a linesman.
Ibrahimovic later claimed in a press conference he had sworn at himself and was merely looking at the official by chance.
However, he was handed a three game which has been upheld on appeal.
He missed last weekend's 3-0 win over Sampdoria and will now also be out of the up-coming games against Brescia and Bologna.
Milan vice-president Adriano Galliani complained that the punishment was unfair.
"It's useless me saying what I think, there's no point and we'll accept the decision," he said during the club's AGM.
"However, I keep seeing players behave in such a way that is more deserving of a dismissal than that of Ibrahimovic but who get treated differently.
"I believe Ibra was in part guilty but he is also always in the limelight."
Milan had previously managed to get a ban reduced on appeal when Ibrahimovic was suspended for three games after being sent off for striking Bari's Marco Rossi in the ribs.
Milan argued that his action could merely have been intended to push the defender away from the action zone to give him a better chance of winning the ball and his ban was reduced to two games, which freed him to play against Fiorentina.
Meanwhile at the AGM the club's balance sheet was unanimously approved showing a loss of 69.7 million euros while revenues dropped from 307 million euros in 2009 to 253 million euros in 2010.
Club president Silvio Berlusconi's daughter Barbara was also voted onto the board of directors.