By the look of Godzilla's suit it looks like it's from the movie Godzilla Raids Again.
Yes. It very well could be Godzilla Raids Again. I don't know my Godzilla suits as well as I would like. I just found this image in a batch of King Kong vs. Godzilla pictures, so I assumed. :)
Yep. That is definitely from "Godzilla Raids Again". My boyfriend and I have the entire Godzilla film collection on DVD, and we both know our Godzilla suits and scenes.