The most common and most likely answer to this crossword clue is the 9 letter word NULLIFIED
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Buddy explains!

The straight part
We know that "Cancelled" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case cancelled = nullified.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does NULLIFIED mean?
NULLIFIED adjective- That has been declared null
- Whose value has been set to null
- To make legally invalid.
- To prevent from happening.
- To make of no use or value; to cancel out.