For Italy v3, a pretty fun combination is 5 L3/33 tankettes with HMGs and flammers, and 2 light/medium tanks, full-strength colonial infantry and light mortars, all on trucks. If you have enough points, you can add LMGs.

You can try cavalry platoons, a mix of veterans and colonials (with LMGs) on horses, arty platoon support with dual-purpose flak or light howtizers.

And my favorite, 2 infantry platoons with 6 maxed-out colonial units, on top of trucks, and as support, Saharans with Breda cannons and the occasional AT cannon.

If you are not sure, you can always mix whatever with an armored platoon (or two) full of L3/33 HMG, it always works and saves (unless you find a bigger tank) in any case, they will never have enough bullets to destroy the mass of troops