Yes it can. It did for me. Check out this research
http://www.annals-general-psychiatry.com/content/7/S1/S119
As far as I know, tegratol has no incidence of causing panic attacks. I think it is simply a matter of your panic disorder recurring. your body is under a lot of stress and especially the nervous system, since TN is a nervous disorder. And yes, your doctor is right when he says that the tegratol may help the panic/anxiety because of the way that it affects the nervous system.
Now, I am not a doctor, but I think that it these are two different issues - if you can, try to use coping skills and the atavan as needed to alleviate some of the panic attacks. Good Luck.
Mike