Counteracting permanent effects from items

The counteract rules (CRB 458) say, "Successfully counteracting an effect ends it unless noted otherwise."

What if the effect is a constant effect from a magical item? Does the effect end permanently? Or does something else happen?

For example, does counteracting the light effect from an Everburning Torch turn it permanently into a mundane torch? Or does something else happen?

depend on conteract effect used

counter curse can only stop constant effect for one turn

steal essence work for 24 hour on a item

dispel magic work for 10 minute on a item

Yes, some counteract effects describe what happens.

Others, like Chilling Darkness, do not. They just say that they attempt to counteract.

What happens to an Everburning Torch if Chilling Darkness counteracts its light?

Yes, some counteract effects describe what happens.

Others, like Chilling Darkness, do not. They just say that they attempt to counteract.

What happens to an Everburning Torch if Chilling Darkness counteracts its light?

I would go with one of the above as a measuring guide. The closest option in my opinion is the Dispel Magic. If you read the spell entry it specifically deals with suppressing a magic item's magic. So having the Torch be suppressed or "Counteracted" for 10 minutes seems like a fair GM ruling.