The 'no reverse' is an interesting requirement. Here's my attempt at it

with stringList as (

SELECT ROW_NUMBER() OVER (ORDER BY (SELECT NULL)) ID, String,

REPLACE(REPLACE(REPLACE(REPLACE(REPLACE(String,' ',''),'.',''),',',''),'''',''),'-','') Compact --More replaces are likely

FROM (VALUES ('bob'),('Madam, I''m Adam'),('noon'),('fail'),('a')) AS I(String)

),

cteTally as (

SELECT ROW_NUMBER() OVER (ORDER BY (SELECT NULL)) N

FROM (VALUES (0),(0),(0),(0),(0),(0),(0),(0),(0),(0)) t1(N),

(VALUES (0),(0),(0),(0),(0),(0),(0),(0),(0),(0)) t2(N)

)

SELECT ID, String, CASE WHEN SUM(c) = LEN(Compact)/2 THEN 'Palidrome' ELSE 'Not Palidrome' END C

FROM (

SELECT ID, String, Compact, CASE WHEN SUBSTRING(Compact,N,1) = SUBSTRING(Compact,LEN(Compact) - N + 1, 1) THEN 1 ELSE 0 END c

FROM stringLists

OUTER APPLY (SELECT TOP(LEN(Compact)/2) N FROM cteTally) t

) a

GROUP BY ID, String, Compact;