To assert the existence of time, there needs to be a perceiver of experiences. If either the perceiver or the experience is non-existent, time cannot exist.
It is a commonly observed phenomenon and experience that time appears to pass to the dreamer at a rate different than that of a waker. For e.g., what appears as ten hours to the dreamer is perceived as (inferred as) one hour to the waker.
However, if the perceiver is non-existent (as in deep sleep), one cannot have the concept of time itself. This is also supported by our inability to explain as to how many hours were spent by us in deep sleep.
Thus, it can be theoretically understood that time is nothing but a product of duality (I have not taken into account the aspect of non-existence of experiences, as it is very difficult to imagine that).
Now, the issue arises as to who is this perceiver. In my understanding, it is the feeling of ‘I’ in us which is beyond body, mind and intellect (hereafter, “mind” shall signify both mind and intellect).
However, this ‘I’ is the result of mind only. This ‘I’ also commonly known as ‘jiva’ is the reflection of Supreme in mind. The moment mind is absent, as in deep sleep, there is no jiva and consequently no perceiver and THEREFORE no time.
In the Chidakash, the infinite plane of consciousness, there is no jiva and hence no time. The moment jiva comes, times comes into being.
Space emanates from mind. This doesn’t require much explanation as it is our daily experience. In dreams, our own mind creates everything. Not only space but every material thing which can be conceived of is but the produce of the mind, as experienced by us in dreams every day. Thus, it is clear that both space and time are but the product of time (as in the absence of mind, jiva cannot exist and hence time cannot.) Further, our mind creates not only space and time but the rate of passage of time too. In different states of consciousness, like dream and waking (if at all there is any difference between them), it assigns a different rate of passage.