I think the two accounts are diametrically opposed to each other. Somebody embellished the truth, a great deal.

Rebel Account"
"Second Sergt. W. J. Woltz, 29th Tennessee, advanced one hundred yards in front of our works, and captured the flag of the 27th Illinois."

Yankee Account"
"In the bloody charge led by General Hooker against Kenesaw, the 27th regiment was pressing upon the rebel works, and when they approached very near them Michael Delaney, the color-bearer, rushed some ten paces forward of the regiment...Still grasping the flat...leaped upon the works, waving his flag.. he clasped the flag to his breast and bore it back in safety to his comrades, among whom he soon after bled to death.