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Preheat oven to 350°F / 175°C. Grease and flour a 10 to 12 cup Bundt or tube pan.
In a bowl, whisk together flour, baking powder, and salt. Set aside.
In a large bowl, cream butter and sugar until light and fluffy, about 3 to 4 minutes.
Add eggs one at a time, mixing well after each addition.
Mix in vanilla extract.
Alternate adding the dry ingredients and buttermilk to the butter mixture, beginning and ending with dry ingredients. Mix until just combined.
Fold in chopped black walnuts.
Pour batter into prepared pan and smooth the top.
Bake 30 to 40 minutes for layers or 50 to 60 minutes for Bundt or tube pan, until a toothpick inserted in the center comes out clean.
Let cool in pan 10 to 15 minutes, then remove to a wire rack.
In a saucepan over medium heat, melt butter.
Stir in brown sugar and milk.
Bring to a gentle simmer and cook 2 to 3 minutes until slightly thickened.
Remove from heat and stir in chopped black walnuts.
Pour warm glaze over warm cake and allow it to set.