It is called "intermittent fasting." Doing it properly works wonders and does not result in muslce loss, I used to do 24 hours fasts once a week. I'll post links when I'm not on my mobile...
I also generally exercise at the start of the fast to burn off my glycogen stores so my body relies on stored fat for energy the next day.
And intermittent fasting does seem a nice way to retain muscle mass: http://www.leangains.com/2011/03/intermittent-fasting-for-we...
For me, when I'm on a 24 hour fast- I feel more focused, more "alive" and not hungry at all (just make sure to drink plenty of water).