A cranked shell model approach for the description of rotational bands in $Napprox Z$ nuclei is formulated. The isovector neutron-proton pairing is taken into account explicitly. The concept of spontaneous breaking and subsequent restoration of the isospin symmetry turns out to be crucial. The general rules to construct the near yrast-spectra for rotating nuclei are presented. For the model case of particles in a j-shell, it is shown that excitation spectra and the alignment processes are well described as compared to the exact shell model calculation. Realistic cranked shell model calculations are able to describe the experimental spectra of $^{72,73}$Kr and $^{74}$Rb isotopes.
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