Rotate Object from my position.

Rotate it in what way? You want the book to face a new rotation (which rotation would that be) or rotate it freely as if you were inspecting it?

Essentially, what does correctly mean in your example - it can mean something different for any given scenario. Are we stacking books on the shelf? Then correctly means the Z up; but that would depend on how the axis are set on the owning actor / mesh asset.