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The present paper includes the study of symmetry analysis and conservation laws of the time-fractional Calogero–Degasperis–Ibragimov–Shabat (CDIS) equation. The Erdélyi–Kober fractional differential operator has been used here for reduction of time fractional CDIS equation into fractional ordinary differential equation. Also, the new conservation theorem has been used for the analysis of the conservation laws. Furthermore, the new conserved vectors have been constructed for time fractional CDIS equation by means of the new conservation theorem with formal Lagrangian.