Yes, it is possible with the 5400zl series
and some others.
To block inbound telnet to a vlan
except for machine a.b.c.d it would be:
ip access-list extended "block-telnet"
10 permit tcp 0.0.0.0 255.255.255.255 a.b.c.d 0.0.0.0 eq 23
20 deny tcp 0.0.0.0 255.255.255.255 0.0.0.0 255.255.255.255 eq 23
30 permit ip 0.0.0.0 255.255.255.255 0.0.0.0 255.255.255.255
exit
Assumes clients are on vlan numbered
'n'
vlan n
ip access-group "block-telnet" in
exit