[Indeed, this] refers to: (the punishment) [that you used to dispute] - meaning: you doubted in the world that it would come to pass.
Interpretation of Surat ad-Dukhan from verse 51 to verse 59.
﴿إِن هَذَا﴾ يَعْنِي: (الْعَذَاب) ﴿مَا كُنْتُمْ بِهِ تمترون﴾ تشكون فِي الدُّنْيَا أَنه كَائِن.
تَفْسِير سُورَة الدُّخان من الْآيَة ٥١ إِلَى آيَة ٥٩.