Cake: Heat oven to 350 degrees F. Sift together flour, baking powder, baking soda, spices and salt in medium bowl; set aside. Beat eggs and oil in large bowl with wire whisk until well blended. Gradually add granulated sugar, mixing until blended. Add flour mixture, carrots, pineapple and walnuts; mix well. Pour into greased and floured 12-cup fluted tube pan or 10-inch (3-L) tube pan.
Bake 50 min. to 1 hour or until wooden toothpick inserted in centre comes out clean. Cool 10 min.; loosen from sides of pan with spatula or knife and gently remove cake. Cool completely on wire rack.
Icing: Beat cream cheese and butter in large bowl with electric mixer until well blended. Gradually add icing sugar, juice and peel, beating until well blended after each addition. Spread on top of cake. Store leftover cake in refrigerator.