Allen_Wolf said:
Energy is required to make a body fall towards its surface i.e. to produce acceleration. That means energy will be lost by the body causing it. Energy is equivalent of mass. Therefore a loss in energy would mean a loss in mass. Right?
In Newtonian physics, energy and mass are not equivalent, so there is no loss of mass. Falling converts potential to kinetic energy, but doesn't change the mass. But that's not the answer you are looking for, is it?
Things are more tricky when you consider the general theory of relativity (GR). Energy depends on your frame of reference. This is true in Newtonian physics as well as relativity. But in GR, a frame of reference only covers a very small region around a point, whereas in special relativity and Newtonian mechanics, it covers all space. Also, in GR, an inertial frame of reference is in free-fall. If you follow an object while it falls, there is no acceleration, so the kinetic energy is zero and the mass stays conserved. A frame of reference that is not in free-fall, such as an observer standing on the Earth, is
not an inertial reference frame, so energy is
not conserved.
Nevertheless, there are still particular quantities that are conserved which are closely related to energy and mass, so you can't use gravity to build a perpetual motion machine. You can extract energy from something falling into a black hole, but it will decrease the final mass of the black hole. The mass of a black hole is not equal to the mass of everything that fell into a black hole. When things fall into a black hole, they fall into an accretion disc where they are heated by collisions with other falling matter, and a lot of radiation is emitted. The energy of the radiation is a substantial fraction (4-49%) of the original mass of the infalling matter, so the black hole only gains mass equal to the remaining mass that wasn't emitted. We can define a mass for the black hole because it is more or less stationary to a faraway observer. But we can't give a unique definition for the mass or energy of the stuff as it falls in.