> Following is the code, to clarify the need for an additional value in 
> 'align' parameter of <table> tag,

The align parameter of table elements has been deprecated for over
five years (more like seven)!!!!  It is not open for new values,
but should be eliminated from new documents.

> i.e. in addition to 'right' and 'left', there could be a value called 
> 'float'

This is a style sheets issue, and you should look at the CSS3 columns
and display:inline-block options, although don't expect any new
CSS features to be widely available for a decade or so.  If you
still want to proceed, after reading the CSS3 draft, the right place
is www-style@w....

> 
> Code for tables side by side is byside.html
> Code for table one below other is in onebelow.html
> The only difference between two file is 'align' parameter.

These examples, on a quick examination, appear to be abusing tables
for layout purposes.  You should code them as divisions, paragraphs,
etc. and then style them to display: table, display: table-cell, etc.,
always assuming that a more direct approach doesn't work.