The technique by which a court, while declaring a law or an earlier interpretation invalid, applies the new ruling only to future cases and transactions, leaving past actions taken under the old understanding undisturbed.
It is closely tied to Golak Nath (1967) and the amendment-of-Fundamental-Rights debate that led to Kesavananda Bharati, both high-frequency constitutional milestones.
Prospective overruling applies the new ruling going forward only; it does not mean the old law was valid, just that past acts under it are protected.
A court declares the new position effective for the future only, protecting past transactions; introduced in Golak Nath (1967).