(or banchoot). British military slang from the time British troops served in India. Corruption of "bahine ka chut" which means "sister's cunt" in Hindi. Abusive term for a person one does not like.
Girl 1: I ate so much last night that I actually sharted myself
Girl 2: That happened to me yesterday but I took it a step further. I was having dinner with my grandparents and I was so disgusted that I actually puked.
Girl 1: OMG thats so disgusting, I'm going to barfshart now too!
Similar to the brainfart, it is the inability to even remember the slightest bit of what you were talking about to the point where someone wonders if you *actually* shit your pants while thinking.
When describing his dog, Rufus had a brainshart and immediately went into a 20 year coma.