After Isha or Tarawi one only needs to look up at the sky on a cloudless night to realize that the blessed month of Ramadan is almost over. As Leila-tul-Qadr nears: Supplications for acceptance, forgiveness, and mercy from The Almighty, The One and Only.
The word 'qadr' means 'decree.' It also means 'majesty or high esteem.' Thus, Laylat ul-Qadr, or the Night of Qadr, means the Night of Decree, or the Night of Majesty.
Laylat ul-Qadr is a very blessed night. It is the best night of Ramadan, rather, the whole year.
It is the night on which Allah decrees His wise ordainments, appointing matters of life, death, sustenance, disasters, etc etc. and the angels descend with these decrees. Allah says, which means:
"Lo! We revealed it on the Night of Power. Ah, what will convey unto thee what the Night of Power is! The Night of Power is better than a thousand months. The angels and the Spirit descent therein, by the permission of their Lord, with all decrees. (The Night is) Peace until the rising of the dawn." (97th Surah of the Glorious Qur'aan - 'Al-Qadr')
It should be noted here that sending down the Quran on Laylat ul-Qadr does not mean that it was revealed all at once to the Prophet (pbuh). It implies that the Quran began being revealed on that particular day. It was then revealed in small segments, as necessary, over a period of 23 years of the Messenger's (pbuh) life. Allah Almighty confirms in His Final Message that this Message will be forever protected on a "guarded tablet" (Lawh-ul-Mahfooz). In other words, it's a confirmation and an amazing prophecy that the Glorious Quran will always remain original and protected from corruption by human hands like the previous Scriptures.
The same applies to Allah's decrees. They are not formulated on this specific night every year. Rather, Allah, with His encompassing knowledge, knows all what will happen in future and has recorded it. On Laylat ul-Qadr, HE issues His decrees pertaining to the following year (life, death, sustenance, etc) to the angels. And Allah knows best as for the rest of the details. We are not to speculate of what we have no knowledge.
Laylat ul-Qadr is the most blessed night. A person who misses it has indeed missed a great amount of good. It is recommended to make a long Qiyaam leil (night prayers) during the nights in search of Leilat-ul-Qadr.
It is also recommended to make extensive supplication on this night and all nights of Ramadan in search of the Night of Qadr. This calls for abandoning many worldly pleasures in order to secure the time and thoughts solely for worshiping Allah.
Here is something important to know:
In the Glorious Quran the day or date of Layla-tul-Qadr has not been mentioned, instead Allah only states that the Quran was revealed (that is, began being revealed) in the month of Ramadan.
"The month of Ramadan in which was revealed the Qur'an, a guidance for mankind, and clear proofs of the guidance, and the Criterion (of right and wrong)." (2:185).
Reports that Layla-tul-Qadr comes during an odd night among the last 10 nights of Ramadan (that is, 21, 23, 25. 27 or 29) have been derived from various man-written Hadiths with NO evidence of authenticity. This is NOT supported by the Quran. Allah makes NO mention (not even any hints) on which date of Ramadan the Quran began being revealed in Ramadan. It is possible that the reason Allah did not reveal the exact date of Layla-tul-Qadr was to avoid people from limiting their worship to just that one night. This is an opinion. The actual reason is only known to HIM. Thus, the entire month of Ramadan must be spent in deep devotion to the Almighty Allah.
The Quran is the Only Divine Literature in the world today and forever until the Day of Judgement. It must be remembered that the altered Old and New Testaments are NOT the counterparts of the Quran. They are the counterparts of the man-written Hadith.
Also please note that there are various stories among people about the Night of Qadr and unusual incidents happening on this night. Such stories are NOT reliable and must NEVER be accepted as Allah has given us NO warrant to believe in them.