I'm pretty certain this isn't correct. Kicks from scrimmage (punts and field goals) are live balls if they hit a defender before the line of scrimmage and do not pass the line of scrimmage before they are next touched. At the point, the kicking team can recover, advance the ball, pass the ball, or rekick the ball. If the line of gain isn't made, it's either the next down, or if the kick (as is usually the case) was on fourth down it's a turnover on downs.
Punts that are blocked but make it past the line of scrimmage are treated like any other punt. If they are touched by the non-kicking team, it's a live ball (or "muff") and may be recovered by the kicking team. A kicked ball that is blocked that goes past the line of scrimmage and is touched by the kicking team is dead there, just as on any punt.
Perhaps are you thinking of the rule that says a ball recovered by the kicking team past the line of scrimmage can't be advanced?
A blocked punt that does not make it past the line of scrimmage is totally fair game. See number 4 in this link from the NFL's digest of rules.
http://www.nfl.com/rulebook/kicksfromscrimmage
Edit: Just a statistical point of interest regarding this rule: The block of the jets punt actually goes down statistically as a turnover on downs.