(C) says, "Our experience of life shows that there are indeed cases in which conflicts arise because of an injustice, with one party clearly in the wrong."
(C) is a restatement of the end of the last premise of the argument (which is the last sentence of the stimulus). This isn't the main point; the main point is that the concept of balance does not justify concealing or glossing over basic injustices in an effort to be even-handed. The statement that (C) is rephrasing is used as support for the overall conclusion of the argument, so (C) is not the correct answer choice.
(B) says, " Balanced reporting requires impartially revealing injustices where they occur no less than fairly presenting the views of each party in a conflict."
(B) sounds great. Balance is not intended to make both sides appear equally justified; rather, balance is supposed to accurately present facts and details of something. Thus, if one party is clearly in the wrong, then balanced reporting should make this apparent. (B) does a great job of rephrasing the main conclusion of the argument, so it's the correct answer choice.
Does this make sense? Let us know if you have any more questions!