With the assistance of emerging techniques, such as cloud computing, fog computing and Internet of Things (IoT), smart city is developing rapidly into a novel and well-accepted service pattern these days. The trend also facilitates numerous relevant applications, e.g., smart health care, smart office, smart campus, etc., and drives the urgent demand for data sharing. However, this brings many concerns on data security as there is more private and sensitive information contained in the data of smart city applications. It may incur disastrous consequences if the shared data are illegally accessed, which necessitates an efficient data access control scheme for data sharing in smart city applications with resource-poor user terminals. To this end, we proposes an efficient traceable and revocable time-based CP-ABE (TR-TABE) scheme which can achieve time-based and fine-grained data access control over large attribute universe for data sharing in large-scale smart city applications. To trace and punish the malicious users that intentionally leak their keys to pursue illicit profits, we design an efficient user tracing and revocation mechanism with forward and backward security. For efficiency improvement, we integrate outsourced decryption and verify the correctness of its result. The proposed scheme is proved secure with formal security proof and is demonstrated to be practical for data sharing in smart city applications with extensive performance evaluation.