Preheat oven to 350°F (180°C). Grease a Bundt pan thoroughly.
In a large bowl, whisk together the flour, ground walnuts, baking powder, and lemon zest.
Melt the butter and cream it together with the sugar until light and fluffy. Add the eggs one at a time, then stir in the lemon juice until well combined.
Gradually add the dry ingredients to the wet ingredients, alternating with the milk, and mix until just smooth. Do not overmix.
Pour the batter into the prepared Bundt pan and spread evenly.
Bake for 40-45 minutes, or until a wooden skewer inserted into the center comes out clean. Avoid opening the oven door for the first 30 minutes.
Let the Bundt cake cool in the pan for 10 minutes before inverting it onto a wire rack to cool completely.
Before serving, dust with powdered sugar, or garnish with chopped walnuts and lemon slices.
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