1Preheat oven to 350 degrees F (175 degrees C). Grease and flour a 10 inch round cake pan. Sift together the flour, baking powder, baking soda, cinnamon and salt, set aside.
2In a medium bowl, cream together the 1 cup butter, brown sugar and white sugar. Stir in the eggs and the orange juice. Add the sifted dry ingredient, mix well. Finally, fold in the walnuts, raisins and carrots. Pour the batter into the prepared pan.
3Bake for 1 hour in the preheated oven, until a tester comes out clean. Cool in the pan for 10 minutes before inverting onto a wire rack.
4To make the frosting, in a medium bowl, beat together the cream cheese, vanilla, 1/2 cup butter and confectioners sugar until smooth. Spread over cooled cake.