Hello @Rajesh132,
First of all you have to know that according the Host cancellation policy in case if a Host cancels a confirmed reservation, the Airbnb will impose the cancellation fee. The fee is based on the reservation amount and when the reservation is canceled.
In addition to a cancellation fee there are other consequences, such as preventing the Host from accepting another reservation for the Listing on the affected dates by blocking the Listing’s calendar.
Hosts who cancel confirmed bookings without a valid reason can experience other consequences, as explained in the Terms of Service and ground rules for Hosts. For example, Hosts may have their Listing or account suspended or removed, and may lose their Superhost status.
Also in a situation like yours, you need to Report this listing and Report the host's profile.
You can report a listing by clicking on the "Report Listing" flag (under the price calculation on the listing page).
And open the host's profile (by clicking on the host's photo) and click Report this profile.
It is unacceptable situation and Airbnb shoud be informed about it.
Kind regards.
Elena.