Well I've tried it on my first ever cycle. It was a simple 500mg Test E (with Adex and Nolva) cycle with a 500 kcal deficit and very low carbs (only carbs with breakfast).
Test E was not the best choice of course, but I did allow me to keep my muscle mass while cutting and it did change my body composition. It's hard to tell your exact gains in LBM and loss in fat with those electronic scales in the gym (most devices have a +/- 4% range).
I just looked more toned with about the same body weight and my strength went up a little. AAS will allow your body to handle nutrients better, so you will add some LBM, but not that much.
For cutting e.g. Test P, winstrol oral (unless you like to inject ED) and Tren are your best choices. Maybe in combination with Clenbuterol or T3.