After breaking head a lot finally I am able to detect the actual error.
What I did
In IE used Tools->F12 Developer Tools or press F12 in IE. Then use "Network" tab to track what is the last page/link which causing the issue. Found out that it was my website which was causing the error. Now its time to find the actual error.
I found that in Web.Config file
<system.web>
<customErrors defaultRedirect="Error.htm" mode="RemoteOnly"/>
This was causing the redirection to "Error.htm" where a generic custom error message was displayed. So I replaced the above customErrors element as below
<customErrors mode="Off"/>
reference: Web.config Custom Errors mode Conflict
Now I have received the actual error. The error is:
A potentially dangerous Request.Form value was detected from the client (ConfigurationRequest="http://go.microsoft.com/fwlink/?LinkID=212874.
Exception Details: System.Web.HttpRequestValidationException: A potentially dangerous Request.Form value was detected from the client (ConfigurationRequest="
Now I need to find out why this issue is occurring and the root cause. Let's see what I can find. But its sure this issue is causing by HTTP GET (Request.Form) call from the 3rd party website
Then I found A potentially dangerous Request.Form value was detected from the client
I added <httpRuntime requestValidationMode="2.0"/>
valid for .Net4.0 runtime
(If .Net runtime is 2.0 then add <pages validateRequest="false">
)
to web.config its started working.
But there were some more errors. Some how in few system IE was not saving Session and profile variables. This causes several issues while page loading as I was using session and profile variables.
I found Session Variables not saved when page is in an iFrame
and added
P3P header in IIS:
Name = p3p
Value = CP="IDC DSP COR CURa ADMa OUR IND PHY ONL COM STA"

its started working file inside iFrame. Phew!!!