does pass statement in python makes any sence?

Question

How one can differentiate pass vs nothing.

for letter in 'Thank you':
    if(letter == 'y'):
        pass
        print("block executes")  
    print('Current Letter : %s' %(letter) )

Without using pass:

 for letter in 'Thank you'
     if(letter == 'y'):
        print("block executes")  
     print('Current Letter : %s' %(letter) )

both end up with same result. Then why to use pass