Excitation spectra {\Delta } E_T of T=0,1,2 states in even--even (e--e) and odd--odd (o--o) N=Z nuclei are analyzed within a mean-field based model involving isovector and isoscalar pairing interactions and the iso-cranking formalism applied to restore approximately isospin symmetry. It is shown that T=0 states in o--o and T=1 states in e--e nuclei correspond to two-quasiparticle, time-reversal symmetry breaking excitations since their angular momenta are I\not =0. On the other hand the lowest T=2 states in e--e and T=1 states in o--o nuclei, which both are similar in structure to their even--even isobaric analogue states, are described as e--e type vacua excited (iso-cranked) in isospace. It appears that in all cases isoscalar pairing plays a crucial role in restoring the proper value of the inertia parameter in isospace i.e. {\Delta } E_T.

PACS numbers: 21.60.--n, 21.10.--k, 74.20.--z