Instant, 3UUU (6) Counter target spell. If that spell is countered this way, remove it from the game instead of putting it into its owner's graveyard. As long as it remains removed from the game, you may play it without paying its mana cost. (If it has X in its mana cost, X is 0.)1
Illus. Pete Venters
If you play an instant or sorcery, it goes to its owner's graveyard when it resolves. [Judgment FAQ 2002/05/28]
This spell can be used on a spell cast using Flashback. [Judgment FAQ 2002/05/28]
If you use this on an opponent's spell with Buyback, then attempt to Buyback the spell when you play it, the card will not go to your hand. If will go to its owner's graveyard. This is because Buyback only works if the card would go to your graveyard. [Jordan 2002/05/27]