Cannot run adb shell "date `date +%m%d%H%M%Y.%S`"

Inside the emulator goto Settings > Date & Time

1. Deselect Automatic timezone.
2. Adjust your timezone manually.
3. Deselect automatic date & time and set correct time

Deselecting automatic time and time zone did not work for me. Instead, I did adb shell su root date $(date +%m%d%H%M%Y.%S).

Adding "su root" is the solution to the "Operation not permitted" error.

Note that this is not equivalent to executing adb shell first and then su root date $(date +%m%d%H%M%Y.%S) (in this case $(date +%m%d%H%M%Y.%S) returns the emulator time, which is not correct, so even though the command succeeds, it does not fix the problem).

I had this problem in real android device, I had a time difference between the pc and the mobile higher than 60 second. I solve the issue just by putting them on same time