Nasty stuff called Dimethyl Sulfide (DMS) forms from S-methyl-methione during the boil, it needs to be elsewhere. The paler the ale, the worst DMS can be. So, leave the lid off.
Allegedly, in theory, you get DMS in your brew if you boil with the lid on. I didn't know about this (and boiled with the lid on) for my first couple of brews and didn't notice any DMS.
However, I do leave the lid off these days, just in case
If you like beer that tastes like cabbage then leave the lid on. When you are boiling you are getting rid of DMS. The only time I use the lid is when Im done brewing and I put my pot away....
I put the lid on when it's on the way to boiling, because it traps the heat in and achieves boil faster. Once boiling is reached, I take it off---boilovers are no fun.
I've had to leave the lid mostly on in the past or I'd never get hot enough to boil. I haven't noticed any off flavors but most of my brews were "darker." I just bought a keggle at the LHBS so all future boils will be outside (with the cover off).