In my particular case the problem was due to Silverlight. I have my ASP.NET MVC application which is incorporating a Silverlight application into it.
When integrating the Silverlight application VS will ask you if you want to allow for debugging your Silverlight application. Selecting yes will enable the Silverlight debugger in your web applications project settings (see below):

To allow JavaScript debugging again simply uncheck the Silverlight checkbox and start your application.
Print | posted on Friday, October 14, 2011 2:40 PM