You will lose weight on calorie restriction as long as you go low enough. Though I've been fat my entire life, after college, I was 150 pounds overweight. I lost the extra weight by eating 900 calories a day for a year and a half or so.
At my normal healthy weight, I was starving. And weak as a kitten. I took up running, and stopped watching my diet. I literally could not keep up the willpower necessary to continue a 3000 calorie diet, even though 900 had been doable for so long. Despite running for an hour a day, I immediately started gaining 10-15 pounds a month.
So I was convinced that it was all about calories. I was fat because I ate too much. Why my body was so hellbent on eating 4000-5000 calories a day, I didn't know. I seemed to have a lot more willpower than anyone else I knew. It was sort of confusing. Then about a year ago, I read Taubes' book.
What if the human body is actually sort of complicated? What if hormonal regulation controls fat? What if the "trash bin" theory of body fat is actually a humongous oversimplification or just wrong? What if, after getting to a "healthy" weight by starving fat, muscle, and vital tissue, I wasn't healthy at all? What if it had also made me malnourished (hence the amazing hunger at my "healthy" weight)?
Anyway, I cut the carbohydrates out of my diet last December. I made zero effort at calorie restriction. In fact, I ate a lot. I made very little effort to exercise more. After a year of this, I'm almost 100 pounds under my max weight. I recently started running again, for fun, not weight loss, and am up to 2-3 miles a day.
And I am stronger than I've ever been in my life. Eating steak every day is probably more expensive than building the same muscle mass with steroids, but I'm pretty happy. I wasn't expecting it. It's good being a carnivore.