Perth-based Fenton Transport has lost an appeal against the 18-day suspension of its O-licence.
The suspension is for a breach of undertakings concerning drivers' hours, handed down by Scottish Traffic Commissioner Joan Aitken.
The appeals tribunal said: "We were of the view that the suspension was the appropriate sanction, it will still enable Mr Fenton to keep the business running."
James Fenton, director and transport manager, said he had obtained no benefit from the infringements. They were all driver errors, due to ignorance rather than deliberate interference.
The initial VOSA investigation revealed eight false records, 47 incidents of speeding, 21 insufficient daily rests, 14 incidents of exceeding fortnightly driving time, 10 incidents of exceeding 10 hours daily driving and seven incidents of failing to keep records.
It also revealed that Fenton's charts were incomplete and the Traffic Examiner thought that he did little to check charts or address reported infringements.
The Scottish TC also suspended the drivers' professional entitlements. This decision was not appealed, and the suspensions are for periods of between two and eight weeks from the same date as the firm's suspension, which commenced on 13 December 2009.