Preheat the oven to 350 degrees. Liberally grease and flour a standard (8 cup) loaf pan OR a 10 inch (10-12 cup) Bundt pan; tap the inverted pan to remove excess flour.
Sift together the cake flour, baking soda, baking powder and milk, set aside.
Using an electric mixer with a paddle attachment, cream the butter and sugar on medium speed until light and fluffly, 2-3 minutes. Add the beaten eggs.
In a separate small bowl, slowly add the hot water to the cocoa powder; mix until smooth.
Alternate adding the sifted flour mixture and the hot cocoa to the butter mixture; blend in the almond extract. Stop the mixer and scape down the sides of the bowl with a spatula to make sure all ingredients are well combined; finish mixing by hand.
Pour the batter into the prepared pan; bake for 45-55 minutes, until a cake tester inserted in the middle comes out clean. Transfer the pan to a wire cooling rack. For a loaf pan, cool completely in the pan for 10-15 minutes before inverting the cake onto the rack, remove the pan and allow the cake to cool completely.