No error from subselect with invalid column name

I have been able to reproduce this under 7.3.2.3, 7.3.3.4, 7.3.4.2 and 8.0.5 (32 Bit running under HP-UX 11). Has anyone ever done this or seen this or can explain this.

create table tab1 (col1 number);
create table tab2 (col2 number);
select col1 from tab1 where col1 in (select col1 from tab2);

The result will be no rows returned. I would have expected a 904 error indicating invalid column name since col1 does not exist in tab2.

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