If you specify a command to execute anytime within the previous six hours, it starts immediately.
If you specify a time with an hour component greater than 23, you are specifying a time on a day following the current one. For example, TIME=2500 means 1:00 AM on the day following the current one (25 hours - 24 hours = 1 hour past midnight "tomorrow"). Similarly, TIME=4900 means 1:00 AM on the day following the day after tomorrow.