Rinse a 4-quart stainless saucepan and while it is still wet, add a few cubes of ice and pour the milk into it. (using a wet pan with ice helps prevent the formation of a skin in the bottom of the pan while cooking because the ice melts, tempering the mil as it heats through.)
Over high heat bring the milk to a full boil without stirring it; be careful not to let it over boil.
Remove from heat and pour the buttermilk, stirring constantly.
Solids will separate from liquid, or whey.
Set aside.
Place a colander in a deep mixing bowl.
Drape the colander with a fine, clean muslin cloth or a double-folded cheese cloth so that the ends hang over the edge.
Pour the curds and whey into the cloth, and, when they whey has drained into the bowl, gather up the ends of the cloth and twist them together firmly to force out the excess whey.
Once you’ve wrung out as much as you can, place the tightly wrapped bundle on a slightly convex surface (like an upside down plate) so that the remaining whey can drip away, and put an other plate or flat pan on top.
Weight the plate with something weighing around 2-3 pounds (like a pot filled with water).
Let Paneer sit for about 30 minutes.
Paneer should be about the same texture as farmers cheese or medium tofu.
Slice as needed.
If not using all the paneer right away, slice into 1in squares and saute in a little oil over high heat just to sear all the sides lightly.
Refrigerate the sauteed paneer in the reserved whey; best to use in a day or two.
