How does time get affected when we move towards light's source and away from the light's source? It is known that speed of light is constant for all observer at any place or moving with any speed. Basically, I want to know, am I right? If I say time experienced by an observer moving towards light's source is lesser than that of moving away with the same speed ; since lesser distance has to be travelled in first case with same speed and vice-versa. But, when I keep 'v' or '-v' in time dilation equation at the place of velocity, I get same value, since squaring a positive or negative number is always positive. But logically, it should differ.. Thank you so much in advance. 
 A: There are two effects at work here.  First, when you are moving in either direction your clock slows down.  You do not experience this, observers who are not moving observe it.  It happens whether or not there is a light source. 
Second, the two clocks you carry to measure the speed of light show different times (to a non-moving observer) with the leading clock showing an earlier time than the following clock. They change roles when you change direction. While you are moving with them, you see them showing the same time even when you change direction, and that opens up a whole new wonderful world of weirdness for later.
Meanwhile, the combination of these two effects, together with length contraction, means everybody sees the same speed of light.
The full equations for time and space seen in one inertial frame from another do contain an x term.
Try searching 'loss of simultaneity' or 'relativity of simultaneity' for an introduction to the wonderful world of weirdness.
A: Dr C's answer is spot on. The difference between the two effects, namely time dilation and the relativity of simultaneity, is often overlooked or confused. The so called Twin Paradox, which is an example of the weirdness Dr C has introduced, can be explained entirely by the relativity of simultaneity, yet you will see countless questions that assume it is the result of time dilation. 
A: This is possibly wrong because what we see is only light.  We don't see anything except the reflection of a thing.  If we were able to perceive things without light or sound, call it a cosmic awareness, then these theories go out the window.  Everything is where it is, when it is, and speed doesn't change that.  It is a limitation of how we perceive things that causes this misconception.
