I'm not familiar with OpenCV, but it seems that these two lines cause you memory leak:
IplImage *InputImg = cvCreateImage(cvSize(640,480),IPL_DEPTH_8U,3);
InputImg = cvLoadImage(UPDATED_IMAGE_STORAGE_PATH ,CV_LOAD_IMAGE_UNCHANGED);
In the first line you are creating an object, but in the second you are assigning another object to the pointer without releasing the previous one, so the previous one gets leaked.
Is creating an image even needed, while you are going to load it?