Generally speaking, it's there to give them a modest amount of laning power. Otherwise they are too prone to being out laned by semi tanky Bruisers. (Also, if their was not %HP damage, Tank v. Tank would be complete and udder wet noodle fights) And generally, %HP was the best way to give them that level of laning power, because it allowed them to stand up against their fighter counterparts, without becoming oppressive against glass cannons.
That said, I don't especially consider Cho'gath, the best example of a tank to begin with. He only has one form of Strong CC, He lacks any significant defensive steroid, And all of his abilities do damage. To me, he fills the role more of a mage, who trades range for Defense, without trading damage.
I also wouldn't include Singed or Garen, in the tank role either. Garen is defined as a Juggernaut, who has Damage and Defense, but lacks CC. Singed is more of a special case, Even though he's tanky, he really doesn't fill the role of a Vanguard or Warden, So he shouldn't expect to itemize in the exact same manor as them.