"So, you've collected seven Tailed Beasts now, but you have no idea who took my Rinnegan?"
Deep beneath the Mountainous Cemetery, in the gloomy underground chambers, Kabuto Yakushi had revived Madara Uchiha through Impure World Reincarnation. As Madara felt out the power of his new body, he looked at Obito and Black Zetsu.
"Yes. Your Rinnegan had been with Nagato all along. In theory, no one should have been able to defeat him with the Rinnegan, but after we set out together to capture the Eight-Tails, things had changed by the time we returned to Amegakure."
Faced with Edo Madara's questioning, Obito remained silent, while Black Zetsu answered honestly. Right now, no one was more anxious than he was. (From now on, they'll be distinguished as Edo Madara and Madara.)
"When we returned to Amegakure, ninja from Konoha were already stationed there, and Naruto Uzumaki had become a perfect Nine-Tails Jinchuriki. Even Obito couldn't slip into Amegakure under Naruto's watch, let alone with Kakashi and the others there to help. My guess is that either they've placed Nagato under their protection, or the Fifth Hokage has taken the Rinnegan."
Now that the real Madara Uchiha stood before them, and everyone present except Kabuto was a trusted core ally, Black Zetsu openly referred to Obito by his true identity. Kabuto would not go around revealing it either.
"The Fifth Hokage—is that Uchiha Itachi?"
"Yes. As a member of the Uchiha Clan, he may be every bit as gifted as you were in your youth."
Contrary to Black Zetsu's expectations, Edo Madara seemed utterly unconcerned that he and Obito had lost the Rinnegan. Instead, the Fifth Hokage, Uchiha Itachi, interested him far more.
"Madara Uchiha against Uchiha Itachi—the strongest Uchiha of the Warring States period against the strongest Uchiha of the modern