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In the Latin(Western)Catholic Church we celebrate the Solemnity of the Assumption of Mary,A Holy Day of Obligation.The same Solemnity in the Eastern rite Catholic Church is called the Dorimition,that is falling asleep, of Theotokos(Mother of God)
For more information and details on the Icon read here;  http://kaiserswest.wordpress.com/2013/08/16/feast-of-the-dormition-feast-of-the-assumption-feast/