Well, it depends what you would classify as a “low calorie diet”

In the long run, restriction, would make you look the most Anorexic. A lot of exercise likely to build muscle.

When you lose weight by not eating or eating very little, muscle is the first thing that goes.

Although, personally, I do not think you can determine whether someone is or is not Anorexic by the way they look. I believe it is more of a mental thing in comparison to a physical/visual one.