Clint Hill’s late equaliser for Rangers ended Celtic’s 22 match winning streak in the league.
Rangers started the brighter but it was the home side who took the lead courtesy of Stuart Armstrong’s goal in the 35th minute.
In the second half, both sides had chances, before Clint Hill salvaged a point for the Ibrox side with a late equaliser in the 87th minute.
However, there was more drama to come in added time when Celtic substitute Leigh Griffiths went down after a challenge from goalscorer Hill.
Referee Bobby Madden was unimpressed and waved away the peanlty appeal much to the dismay of the home support.
The 1-1 draw means runaway league leaders Celtic remain 33 points clear of rivals Rangers and 25 ahead of second placed Aberdeen.
Brendan Rodgers’ side can clinch the title by winning their next two games against Dundee and Hearts.
As for Rangers they begin a new era after appointing Pedro Caixinha as their new manager.
Caixinha will take over from caretaker manager Graeme Murty after the club sacked Mark Warburton in February.
The old firm will lock heads again at the end of April in the Scottish Cup which will be the fifth time they have played each other this season.