Give out wrong time (4)
I believe the answer is:
'give out' is the definition.
(I know that give out can be written as emit)
'wrong time' is the wordplay.
'wrong' indicates anagramming the letters.
'time' with letters rearranged gives 'EMIT'.
(Other definitions for emit that I've seen before include "Sent" , "Make audible sounds" , "shed" , "'Give off, odour say (4)'" , "Give out (eg light)" .)