Invert the tin to remove excess maida.
Preheat the oven to 175 degrees for 10 minutes.
For preparing the cake, sieve the maida, baking soda, and baking powder three times.
Take the butter and condensed milk in a bowl.
Add the vanilla essence.
Whisk it to combine everything well.
Add the sieved maida mixture and whisk to mix them together.
Add little milk to adjust the cake batter to dropping consistency.
Fold in the cinnamon powder, nutmeg powder, and the grated carrots.
(For optimum taste, choose sweet and red carrots).
Add 1 tablespoon of the crushed walnuts at this stage if desired.
Lastly, add the vinegar and whisk briskly for a few times.
The batter will start rising due to the reaction between the baking soda and vinegar.
Quickly pour into the ready cake tin and gently tap the tin 2 to 3 times.
Place in the oven and bake for about 25 to 30 minutes.
Depending on the oven and other variables, the baking time may vary. So eyeball it accordingly.
Check with a toothpick and remove if the toothpick comes out clean.
If not, bake till done.
Cool the ready cake in the tin for 5 minutes and then de-mold.
Keep on a wire rack for cooling completely.
To make the cream cheese frosting, whisk together the cream cheese, vanilla essence, sugar, and butter until it gets smooth.
Cool for 10 minutes in the fridge before using.
Place the cake on a serving plate.
Cut it horizontally into two and spread a heaped tablespoon of the frosting on the top of the bottom cake layer.
Place the second layer of the cake on top and spread some frosting on the top and sides of the cake.
Level with a spatula or a butter knife.
Garnish either with grated carrot or crushed walnuts or slivered almonds etc.
Chill the cake for about 30 minutes to set and serve.