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__TIME__

As explained in Modern C

__TIME__ is a predefined C macro that expands to a string literal containing the time of compilation.

__TIME__ is a predefined C macro that expands to a string literal containing the time at which the program is compiled. It records compilation time, not the current time obtained during execution. section 8.5

TAKEAWAY: Use __TIME__ for compile-time identification; use time() when execution-time calendar information is required. section 8.5

How Modern C covers it

How deep it goes
Defines the expansion result and compilation-time meaning without detailing preprocessing mechanics or formatting rules.
What it assumes
Assumes basic C macro vocabulary and distinguishes compilation from program execution.
What you can do after
Evaluate whether a timestamp represents compilation time or runtime calendar time.
How it connects
Contrasts compilation timestamps with time.h, time(), time_t, and difftime.

Also explained in

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This explainer was generated by Manning's knowledge graph from the text of Modern C. The section links point to the parts of the book it draws on.