Preheat oven to 325F and line two 8 inch cake pans with parchment paper. If you are greasing the pans with spray, make sure to not overspray otherwise the sides/edges will brown/crisp up because of the excess fat from the spray.
In a medium-sized bowl, whisk together the cake flour, baking soda, salt, and chai spice. Set aside.
In a medium-sized bowl or the bowl of a stand mixer fitted with the paddle attachment, beat the butter and oil together on medium-high speed until completely combined. About 2-3 minutes.
With the mixer on low speed, stream in the granulated sugar then beat on medium speed until combined and fluffy. 1-2 minutes.
Add the eggs, one at a time, mixing well on low speed in between each addition, scraping down the sides and bottom of the bowl as necessary.
Add the vanilla and mix on low-medium speed until combined.
With the mixer on low, add half of the dry ingredients. Once almost fully incorporated, add half of the milk and mix until almost combined. Repeat this with the other halves of the dry ingredients and the milk. Do not over mix.
Divide the batter evenly amongst the two cake pans. Bake the cakes for 33-35 minutes until a toothpick inserted into the center of the cake comes out clean. The edges of the cake will be slightly pulling away from the pan. Let the cakes cool completely in the pan.
While the cakes are cooling, make the mascarpone frosting. In the bowl of a stand mixer fitted with the paddle attachment, or a large bowl if using a handheld mixer, beat the mascarpone and butter together on medium-high speed until combined and no more lumps exist.
Add the vanilla, salt, & one cup of the powdered sugar and beat until combined - starting at low speed so the sugar doesn’t fly out of the bowl, then bumping it up to high speed. Continue to add one cup of powdered sugar add a time and beat.
If needed, add the milk then mix until combined. Once everything is combined, beat on medium-high speed for 4-5 minutes until fluffy. You may need to add more powdered sugar (to thicken) or more milk (to thin) depending on desired consistency.
Once the cakes are completely cool, level off the tops of the cakes with a knife or cake leveler. Spread the frosting into an even layer on top of one of the cake slices, then place the other cake slice on top. Use the remaining icing to frost the sides and tops of the cakes.
Dust with cocoa powder & enjoy!