Core Legal Answer & Context: This scenario involves a gift with a condition allowing the donor to revoke a part of it at their mere pleasure. Under Section 126 of the Transfer of Property Act, 1882, a gift may be suspended or revoked only in specific circumstances, such as by agreement between the donor and donee on the happening of an event not dependent on the will of the donor. A gift cannot be revoked at the mere will or pleasure of the donor. Therefore, the condition reserving the right to take back Rs. 10,000 at pleasure makes the gift void as to that part, while the rest of the gift (Rs. 90,000) remains valid.

Relevant Statutes and Sections: Transfer of Property Act, 1882, Section 126 (When gift may be suspended or revoked).

Important Landmark Cases: Not applicable for a direct statutory application.

Clear Conclusion: The gift holds good as to Rs. 90,000 but it is void as to Rs. 10,000.