My life was changed when I discovered CTRL & [ (open square bracket)
Press it when you're in a cell with a formula and it will take you directly to the cell it's pulling from - even opening another workbook if necessary.
Quite simple if you can be completely consistent with how you write "Not Out", i.e. no extra spaces/hyphens etc. A countif formula could count the number of times "Not Out" appears and deduct this from the number of innings to get the number of times the batsmen has lost his wicket.
=if(b2<a2,"In Time","Out of Time")
If you are happy for them to equal, i.e. exact due time = on time then add an "=", i.e. =if(b2<=a2,"In Time","Out of Time")