The visitors drew first blood within 5 minutes. Alex Curran’s free kick was deflected off the wall past a flat footed Curtis Pond.
Colne had the better of what few first half chances there were, restricting the hosts to limited attacks on their goal.
Chasetown levelled in the 53rd minute when a Danny Cocks corner was powerfully headed home by Jazz Luckie.
The Scholars then stepped up a gear and Hakan Burton had to block a George Cater effort after Will Whieldon had played him through.
With 75 gone, Burton then kicked away a Cocks shot after another Whieldon through ball split the defence.
Chasetown appealed for a late spot kick for what looked like a shove on Harry Goode as he broke into the box.