Preheat oven to 350 degrees F (175 degrees C). Grease and flour a 9 inch square pan. Combine the flour, baking powder, salt, cinnamon and orange rind. Set aside.
In a large bowl, cream together the butter and 3/4 cup sugar until light and fluffy. Beat in the eggs one at a time. Beat in the flour mixture alternately with the milk, mixing just until incorporated. Stir in the walnuts.
Pour batter into prepared pan. Bake in the preheated oven for 40 minutes, or until a toothpick inserted into the center of the cake comes out clean. Allow to cool for 15 minutes, then cut into diamond shapes. Pour honey syrup over the cake.
For the Honey Syrup: In a saucepan, combine honey, 1 cup sugar and water. Bring to a simmer and cook 5 minutes. Stir in lemon juice, bring to a boil and cook for 2 minutes.