You just need to set up a couple events. One for the place where you get the book, and one for the book itself. The first event for the bookshelf needs to have your option for taking the book out, and it needs to turn on a self-switch if you select yes, and then it should have a second page which looks like this:
Conditional Branch: [Book] is in inventory
Text: Would you like to put the book back?
Show Choices: Yes, No
WHen Yes
Control Self-Switch: [A] OFF
When No
Branch END
Else
Text: THere is nothing interesting in the bookshelf
Branch END
Then you should have another event which has no graphic, but has through on, and is set to Fastest Speed and Highest Frequency on an Approach movement path. It should also be set so that it has a precondition of the [Book] switch being on.
I am not sure how you want the ability to place the item down, if you want it to be when you use the item in your inventory, or if you just want it so that if you press enter, it gives you the option to put it down. The only majot difference is the use of a common event, rather than just setting it up inside the book event itself. Either way, what you want the event to do is turn on a self-switch which shows the book, essentially. Just tell me how you want the event to go, and I'll tell you the rest.
There might be an easier way, but this is the first that popped into my mind.