A detailed description of the tunneling processes within Aharonov-Bohm (AB) rings containing two-dimensional quantum dots is presented. We show that the electronic propagation through the interferometer is controlled by the spectral properties of the embedded dots and by their coupling with the ring. The transmittance of the interferometer is computed by the Landauer-Büttiker formula. Numerical results are presented for an AB interferometer containing two coupled dots. The charging diagrams for a double-dot interferometer and the Aharonov-Bohm oscillations are obtained, in agreement with the recent experimental results of Holleitner et al. [Phys. Rev. Lett. 87, 256802 (2001)] We identify conditions in which the system shows Fano line shapes. The direction of the asymetric tail depends on the capacitive coupling and on the magnetic field. We discuss our results in connection with the experiments of Kobayashi et al. [Phys. Rev. Lett. 88, 256806 (2002)] in the case of a single dot. ©2005 The American Physical Society.