Take a non-stick pan or heavy bottomed pan and combine all the ingredients.
Switch on the flame and keep it to medium.Start cooking the mixture on low flame, stirring continuously.
When you start cooking the mixture the mixture will be watery as sugar starts melting.
Cook for 10-12 minutes until the mixture starts to leave the sides of the pan.
Don't overcook the mixture, if the mixture gets thick you won't get the texture of kalakand it will be more of burfi. There should be some moisture in it.
Once you get the desired consistency of mixture, transfer to a dish lined with parchment/butter paper.
Top with chopped nuts of your choice. Press the nuts lightly to the mixture so that they stick to the top.
Let it sit in refrigerator 3-4 hrs before cutting into squares.
Notes
If you want to use condensed milk instead of fresh cream and sugar, add 200g condensed milk for 1 cup paneer. You can add more if you want it sweeter.Add saffron milk or rose essence instead of cardamom for variation is flavour.