In an article by Bill Woolfolk that appeared in in Alter Ego #6, it reprints the color proof to this cover [in black and white], stating first it was drawn by John Giunta [who drew the feature at the same time Mort Leav did], and then a take-off on this cover by done in 1996, stating that both were done by Mort Leav.
Art identification by Jim Vadeboncoeur and Hames Ware, verified by Bill Black. The cover to this story is actually found on the cover of The Mad Hatter #1 (January-February 1946).
Art identification by Jim Vadeboncoeur and Hames Ware.