This excerpt is taken from Sheikh Abu Hamza Abdul Khaliq Siddiqi's book Sahih Fazail-e-Amaal.
Allah Almighty says:
﴿إِنَّا أَنزَلْنَاهُ فِي لَيْلَةِ الْقَدْرِ . وَمَا أَدْرَاكَ مَا لَيْلَةُ الْقَدْرِ . لَيْلَةُ الْقَدْرِ خَيْرٌ مِّنْ أَلْفِ شَهْرٍ. تَنَزَّلُ الْمَلَائِكَةُ وَالرُّوحُ فِيهَا بِإِذْنِ رَبِّهِم مِّن كُلِّ أَمْرٍ . سَلَامٌ هِيَ حَتَّىٰ مَطْلَعِ الْفَجْرِ.﴾
"Indeed, We sent the Qur'an down during the Night of Decree. And what can make you know what is the Night of Decree? The Night of Decree is better than a thousand months. The angels and the Spirit descend therein by permission of their Lord for every matter. Peace it is until the emergence of dawn."
Reference: (97-Al-Qadr:1-5)
﴿إِنَّا أَنزَلْنَاهُ فِي لَيْلَةٍ مُّبَارَكَةٍ ۚ إِنَّا كُنَّا مُنذِرِينَ . فِيهَا يُفْرَقُ كُلُّ أَمْرٍ حَكِيمٍ . أَمْرًا مِّنْ عِندِنَا ۚ إِنَّا كُنَّا مُرْسِلِينَ .﴾
"Indeed, We sent it down during a blessed night. Indeed, We were to warn [mankind]. On that night is made distinct every precise matter - [Every] matter [proceeding] from Us. Indeed, We were to send a messenger."
Reference: (44-Ad-Dukhan:5-3)
Allah Almighty named this night the night of blessings because the Holy Qur'an was revealed in it, which guides humanity towards every goodness in religion and worldly life. Through it, Allah's mercy, blessings, justice, and guidance spread throughout the world. It is the night in which the Prophet Muhammad (peace be upon him) was granted the highest rank. It is the night when the angels and the trustworthy spirit descend to the earth. On this night, Allah writes down all the decrees for the entire year, including life and death, good and evil, abundance and scarcity of sustenance, and all other destinies. The purpose of the Qur'an's revelation was to warn jinn and humans of the punishment on the Day of Judgment so that they may adopt a life of faith and righteous deeds, avoid the torment of Hellfire, and become deserving of Paradise.
عن عائشة رضي الله عنها ، أن رسول الله صلى الله عليه وسلم قال: تحروا ليلة القدر فى الوتر من العشر الأواخر من رمضان .
It is narrated from Sayyida Aisha (may Allah be pleased with her) that the Messenger of Allah (peace be upon him) said: "Seek the Night of Decree in the odd nights of the last ten nights of Ramadan."
Reference: Sahih Bukhari, Book of the Virtue of the Night of Decree, Chapter: Seeking the Night of Decree in the odd nights of the last ten nights, No: 2017.
عن عائشة قالت: قلت: يا رسول الله! أرأيت إن علمت أى ليلة ليلة القدر ما أقول فيها؟ قال: قولي: اللهم إنك عفو تحب العفو فاعف عني .
Sayyida Aisha (may Allah be pleased with her) said: I said, "O Messenger of Allah! Tell me, if I come to know which night is the Night of Decree, what should I recite in it?" He (peace be upon him) said: "Recite this supplication: O Allah, indeed You are Pardoning, You love pardon, so pardon me."
Reference: Sunan Tirmidhi, Chapters on Remembrance and Supplication, Chapter: Which supplication is best, No: 3513 - Al-Albani (may Allah have mercy on him) declared it authentic.
عن أبى هريرة، رضى الله عنه عن النبى صلى الله عليه وسلم قال: من قام ليلة القدر إيمانا واحتسابا غفر له ما تقدم من ذنبه .
It is narrated from Sayyidina Abu Huraira (may Allah be pleased with him) that the Prophet (peace be upon him) said: "Whoever stands (in prayer) in the Night of Decree out of faith and in the hope of reward, his previous sins will be forgiven."
Reference: Sahih Bukhari, Book of Fasting, Chapter: Whoever fasts Ramadan out of faith and seeking reward, No: 1901. Sahih Muslim, Book of Traveler's Prayer, Chapter: Encouragement to stand in Ramadan prayer which is Taraweeh, No: 1778.
It is narrated from Sayyidina Anas bin Malik (may Allah be pleased with him) that when Ramadan came, the Messenger of Allah (peace be upon him) said:
إن هذ الشهر قد حضركم ، وفيه ليلة خير من ألف شهر، من حرمها فقد حرم الخير كله، ولا يحرم خيرها إلا محروم
"This month has come to you, in which there is a night better than a thousand months. Whoever is deprived of its goodness is truly deprived of all goodness, and only the unfortunate are deprived of the blessing of the Night of Decree."
Reference: Sunan Ibn Majah, Book of Fasting, Chapter: What has been mentioned about the virtue of the month of Ramadan, No: 1644. Sahih At-Targhib wa At-Tarhib, No: 989-990.