Many relevent points already addressed here...Possible,yes.Easy to do?For most people,no.Fonz probably nailed the most important point.As long as you can maintain positive nitrogenic retention and avoid amino acid exportation(by keeping protein as your main staple/macronutrient),then you can still grow,but it will be more difficult to maintain strength,as ATP is likely to be drained for sure in a sub-caloric state.This is where certain anabolics are a godsend though,as they keep the PNS stimulated even in an ATP depleted state,which helps maintain contractile force.
Bottom line,if you're goal is to maintain/gain a slight amount of LBM sub-calorically,make sure to keep protein as your main dietary staple.
Oh,and A/S won't hurt either.