Preheat the oven to 350°F (175°C). Grease and flour an 8-inch round cake pan.
In a medium bowl, whisk together the all-purpose flour, baking powder, baking soda, and salt. Set aside.
In a large bowl, using an electric mixer, cream the softened butter and granulated sugar together until light and fluffy, about 3-4 minutes.
Add the eggs one at a time, beating well after each addition.
Mix in the sour cream, whole milk, fresh lemon juice, lemon zest, and vanilla extract until combined.
Gradually add the dry ingredients to the wet ingredients, mixing on low speed until just combined. Do not overmix.
Pour the batter into the prepared cake pan and smooth the top with a spatula.
Bake for 30-35 minutes, or until a toothpick inserted into the center comes out clean.
Remove the cake from the oven and allow it to cool in the pan for 10 minutes.
Run a knife around the edges to loosen the cake, then invert it onto a wire rack to cool completely before serving.