Ipad 2 will not power off with power button or home buttons pressed

SOURCE: my ipad is disabled how do i fix it

Try connecting it to iTunes, turning off the ipad, then hold both the lock and the home button for 10 seconds, then relese the lock button while continuing to hold the home button until iTunes recognizes the iPad. Then you should be able to reset it without problem.

SOURCE: IPad shuts down itself

It seems that you've already tried reset (holding the home and power buttons, right?) the iPad and it does not work.

So you may need to connect your iPad to your computer and do a factory restore using iTunes.

Check this: http://support.apple.com/kb/HT1414

SOURCE: how do I unlock a locked up ipad?

If you've got a locked up iPad app or otherwise misbehaving iPad, and want to reboot / reset your iPad, simply hold the sleep and home buttons together until the iPad restarts.
You'll see the shutoff slider come up first, but just keep holding. The screen will go blank and the Apple logo will reappear as the iPad reboots.
Note: this does not reset any data on your iPad. This is just a restart, equivalent to rebooting your computer.

SOURCE: On my new iPad 3, when I push the home button to get out of a program, it does not work. I push & hold and nothing happens. I have rebooted the iPad several times, nothing. What should I try next.

It may be a hardware fault, what I would do is given that it is a new ipad take it to the local Apple Store and they will either replace it and have it repaired.