I see where you getting at. Of course your are right but it doesnot exclude the circuit I have in mind. Primary winding connected to a powersupply via switch. Secondary a circuit that only draws dc current, such as an LED or an LED protected by a serial diode that can withstand largish voltage. Say this drives an LED and the current through the LED is measured by a uP. If the current goes below a certain limit, the uP closes the switch for a certain time. The LED gets a reverse voltage, but no current. Then the switch is opened again and the current is maintained through the LED. I should have mentionned it, but the goal is to have a circuit without capacitor, and the resulting current is allowed to be intermittent as long as the duty cycle is large. In the intermittent time there may be a reverse voltage may be as you indicated. The background is the given that power leds have a small margin between nominal current and maximum current. With ideal components the only loss is in the serial diode, and it may be dispenced with if the total circuit is low voltage and the LED can withstand the reverse voltage.
Groetjes Albert