Let XϵP(A∩B).
Then each element of X is an element of A and B, hence X is also in P(A) and P(B) ⇒XϵP(A)∩P(B).
Now
Let YϵP(A)∩P(B).
Then YϵP(A) and YϵP(B). Therefore each element of Y is an element of A and B. Hence each element of Y is in A∩B⇒YϵP(A∩B).
X and Y are arbitrary, hence we have shown that any set in P(A∩B) is in P(A)∩P(B) and vice versa.
From this we can conclude that the two sets have identical composition and are thus equal.