Long term capital gain from other than house property

yes, section 54F benefit is available to an individual/HUF on transfer of any long term capital asset other than house property. Since assessee is an individual who made an investment in the name of his child, it has been held in some case laws that assessee may make an investment u/s 54 and 54F in the name of his wife or childrens since the main objective of these sections is to encourage the investment in house property.