The most common and most likely answer to this crossword clue is the 8 letter word SCRUBBED
I've seen this crossword clue in Financial Times
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More clues leading to the result SCRUBBED
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 = scrubbed.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 SCRUBBED mean?
SCRUBBED verb- To rub hard; to wash with rubbing; usually, to rub with a wet brush, or with something coarse or rough, for the purpose of cleaning or brightening
- To rub anything hard, especially with a wet brush; to scour
- To be diligent and penurious
- To call off a scheduled event; to cancel.
- To eliminate or to correct data from a set of records to bring it inline with other similar datasets
- (audio) To move a recording tape back and forth with a scrubbing motion to produce a scratching sound, or to do so by a similar use of a control on an editing system.
- (audio, video) To maneuver the play position on a media editing system by using a scroll bar or touch-based interface.
- With hands washed according to operating room protocol and wearing sterile gown and sterile gloves.
- Dwarfed or stunted; scrubby.