P.I.T. is a technique of ramming, so it's totally valid report, and therefore it is not allowed to be performed.
even more so, most of the time you try to do a pit you just ram the other player, since the distance between the real position and the one you see on your screen is proportional to sum of your pings multiplied by the speed, and therefore varies greatly to a point where you can't predict is it a P.I.T., or a regular ram.