Heat 1" of vegetable oil on moderate to medium-high heat in a deep frying pan.
Peel and core apples with peeler (or, even easier, I used an apple-peeling machine with crank). Cut into 1/4 inch thick slices , forming apple rings. Sprinkle sliced apples with the juice of the lemon to prevent browning.
Mix together pancake mix and water, season with nutmeg. Working in batches, coat rings of apple in batter and fry for 2-4 minutes on each side, until evenly golden brown. Transfer to paper towels to drain.
Top fritters with confestioners' sugar and transfer to a serving platter and then your mouth! :)