How to derive the equation of the plane passing through the intersection of two given planes.
Lets say we have given two planes $$ \pi_1 : \vec{r}.\hat{n}_1=d_1\\ \pi_2 : \vec{r}.\hat{n}_2=d_2\\ $$ where $\hat{n}_1, \hat{n}_2$ : unit vectors normal to the planes $\pi_1, \pi_2$ and $d_1, d_2$ : perpendicular distances from the origin.
The position vector of any point on the line of intersection must satisfy both the equations.
So far good, I understand this. But, from here how do I prove that any plane passing through the intersection of the planes is:
$$\boxed{ \pi_3 : \vec{r}.(\hat{n}_1+\lambda \hat{n}_2)=d_1+\lambda d_2\\ \qquad\qquad\quad\text{OR}\\ \pi_3 : \vec{r}.(\alpha\hat{n}_1+\beta \hat{n}_2)=\alpha d_1+\beta d_2 }$$
My Understanding
From the figure
and parallelogram law of vector addition, the normal of the plane passing through the intersection of $\pi_1$ and $\pi_2$ will be some linear combination of $n_1$ and $n_2$. ie, $\hat{n}_3=\alpha\hat{n}_1+\beta\hat{n}_2$. And any point should satisfy equations of $\pi_1$ and $\pi_2$. Thus, $$ \vec{r}.\hat{n}_3=D \implies \vec{r}.(\alpha\hat{n}_1+\beta\hat{n}_2)=\alpha\vec{r}.\hat{n}_1+\beta\vec{r}.\hat{n}_2=\alpha d_1+\beta d_2=D\\\color{red}{ \implies \vec{r}.(\alpha\hat{n}_1+\beta\hat{n}_2)=\alpha d_1+\beta d_2} $$
Is it the right explanation of the derivation ?

I think your figure gives a good intuition why the formulas work, provided that the planes $\pi_1$ and $\pi_2$ are distinct and not parallel. (If $\pi_1$ and $\pi_2$ are identical or parallel to each other, the formulas for $\pi_3$ give a plane parallel to $\pi_1$ and $\pi_2$.)
Assuming $\pi_1$ and $\pi_2$ are distinct and not parallel, take a plane $\pi_\perp$ perpendicular to the line of intersection; any plane through the line of intersection must have a normal vector parallel to that plane. The two normal vectors in the figure are both parallel to $\pi_\perp$, and they span the two-dimensional space of vectors consisting of all vectors parallel to $\pi_\perp$. In other words, the set of non-zero linear combinations of the two normals is exactly the set of normals to all planes through the line of intersection.
That gives you the formula $$\pi_3 : \vec{r}.(\alpha\hat{n}_1+\beta \hat{n}_2)=\alpha d_1+\beta d_2,$$
and the other formula can be derived from that as long as $\alpha \neq 0$ (that is, it can represent every such plane except the given plane $\pi_2$).