In a large mixing bowl, beat the butter and sugar for about 5 mins, until light and fluffy. Beat in the eggs one at a time, beating well and scraping the bowl and beaters after each addition.
Combine the flour with the ground nuts, baking powder and baking soda. Add a quarter of the flour mixture to the butter mixture, then add a third of the milk. Repeat beginning and ending with the flour mixture. Scrape the bowl and beater often.