Sift flour and baking powder into large bowl. In a separate bowl, beat eggs with sugar, olive oil, lemon juice and rind. Mix into dry ingredients to blend. Pour into oiled and floured 8-inch round cake pan. Bake at 350 degrees F for about 45 minutes or until cake springs back when lightly touched.
Meanwhile, combine 1/4 cup lemon juice and powdered sugar. Pour over hot cake and bake 10 more minutes. Let cake stand 20 minutes on cooling rack. Remove from pan and dust with additional powdered sugar.