"With regard to the final decision, the CCP instead has solely eliminated the acquittal for insufficient evidence, which was inherited from the inquisitional system based on the presumption of guilt. The Code only established that 'the judge shall deliver a judgment of acquittal also in case of insufficient, contradictory or lacking proof that the criminal act occurred, the accused committed it, ....' It was not clear, however, which was the required standard to convict a person and therefore Article 530 was considered one of the least successful provisions of the 1988 reform
"Despite this failure, since the Nineties the Supreme Court has made reference to the beyond-any-reasonable-doubt standard....in a historic decision taken by the Joint Chambers {United Sections} in 2002, the B.A.R.D. standard was declared to be fundamental as standard of proof for conviction....
"In 2006, Law no. 46...changed Article 533, par. 1, by introducing...'the judge shall deliver a judgment of conviction if the accused is proven to be guilty of the alleged offence beyond a reasonable doubt'...."
Source: The Italian Code of Criminal Procedure: Critical essays and English Translation, ed. M. Gialuz, L. Luparia, F. Scarpa; Wolters Kluwer Italia (c) 2014. p.37-38
ETA: So one is either guilty or not guilty under Italian law. There is no "maybe, there is insufficient evidence" in current Italian law.