Axes I throw back into remains of fire (9)

'remains of fire' is the definition.
Although both the answer and definition are verbs in their -s form, I can't see how they can define each other.

'axes i throw back into' is the wordplay.
'axes' becomes 'ashes' (I am not sure about this - if you are sure you should believe this answer much more).
'throw' becomes 'lob' (lobbing is a kind of throwing).
'back' shows that the letters should be reversed in order.
'into' is an insertion indicator.
'i'+'lob'='ilob'
'ilob' backwards is 'boli'.
'ashes' placed around 'boli' is 'ABOLISHES'.

Can you help me to learn more?