Chasetown started brightly and deservedly took the lead in the 14th minute. Danny Cocks sprinted past full back Waqas Azam who pushed the winger. Jack Langston stepped up to roll the ball into the corner of the net from the penalty spot.
Colne had the ball in the net midway through the first half only to be denied by a flag for offside.
The hosts turned the game on its head within five second half minutes. Within two minutes, Matthew Morgan equalised for the hosts and then Bradley Lynch tapped into an empty net past debutant Dave Parton.
Substitute Jazz Luckie was a whisker away from a Chasetown equaliser with his first touch after coming on.
Play off chasing Colne extended their lead in the 75th minute with Reece Webb Foster lobbing the advancing Parton who could only get his hand to it.