Bring water to a boil, add salt and spinach. Let boil for 30-45 seconds. Remove from heat, drain and transfer to a bowl with cold water to stop the cooking process.
Heat oil in a pan. Add paneer and fry on each side for no more than 30 seconds. Remove into a bowl. Add 1 tsp salt and turmeric powder and pour 2 cups of warm water. Set aside.
To the same oil, add cumin seeds, garlic, and dry red chilies. Saute for 30 seconds and add onions. Add salt and sugar.
When the onions start browning, add cumin powder and chili powder. Saute for 2-3 more minutes.
Now add tomatoes and cook until they turn soft.
Grind this onion masala and spinach together into a smooth paste.
Heat 1 more tsp oil in the same pan and add cardamoms. Now add the spinach mix and cook over low heat until it turns dark green and oil separates.
Add paneer and let it simmer for 2 minutes.
Adjust salt and sugar, add garam masala if desired. Now add cream, stir and remove from heat.
Serve with roti, naan, or rice.