My original tumblr post was here. This image was researched by Bacchus at ErosBlog as part of the “Δ commission.” The research was originally published at Hedonix as “Δ 052 – Clothing-Specific Solvent ‘Accident’.” Here is what Bacchus found.

The artwork above is a cropped version of a taller page:

There is a medallion in the lower right of the image that includes “Natsuhiko” which is appears to be (and is) the name of the artist. A much larger version of the artwork (2325×3377) is linked from a page here that confirms Natsuhiko as the artist. An artist profile for Natsuhiko (夏彦) leads us to the artist’s Pixiv presence and thence to his blog in Japanese.

At one site where the image is found, it’s identified as belonging to an image pool called “Dengeki Moeoh 2013-02”. It seems likely that this refers to, and thus that the image was published in, the 2nd issue from 2013 of the manga magazine Dengeki Moeoh, which Wikipedia identifies as a bimonthly special edition of the related magazine Dengeki Daioh.