No. It is made to look like a hanken cel, but it 
can't be...See how Gohan's hair goes up beyond 
the level of the registration holes? It is fully 
painted and outlined. A studio artist would not 
have done this, because this area of the cel 
would not be photographed - the camera would be 
zoomed into an area below the registration marks 
(otherwise the registration holes/pegs would show 
in the final picture). Studio artists know this 
and wouldn't have bothered to complete an area 
that high on the cel. And, if that part of the 
drawing was intended to be shown anyway, it would 
have compositionally been placed lower...I have 
several hanken cels myself, and have seen many 
others - never have I seen one done in such a way.

The drawings are suspicious looking too - the 
lines do not seem right. (If there were larger 
scans I could point out the flaws in detail.) 

It is well painted, I admit; this person either 
has some art background or has been practicing 
fancels...But I strongly suspect it to be a 
reproduction.