This is a classic recipe in the Philippines where it's called Bistek Tagalog. It's quite delicious and easy to prepare. Topping each serving with sautéed onion rings is the classic Filipino touch to this dish. Each portion is usually served on a bed of steamed white rice, to make a well-rounded meal.
In a bowl, combine beef, onions, garlic, pepper, lemon juice and soy sauce. Massage marinade into meat and marinate for about 30 minutes. Remove meat, onions and garlic from marinade, squeezing and reserving excess liquid.
In a pan over high heat, heat oil. Add beef and cook for about 3 to 5 minutes per side or until lightly browned. Spoon out and reserve released juices during frying. Remove beef.
Add onions and garlic to the pan and cook, stirring regularly, until soft and aromatic. Return beef to pan.
Add reserved marinade and juices. Add water and bring to a boil. Cover, lower heat and simmer for about 40 to 50 minutes or until meat is fork-tender and liquid is reduced. Season with salt to taste. Turn off heat and add the remaining onion rings. Cover and allow onion slices to cook slightly in the steam.