
Definitely quite an old frame, I'm thinking early 1950's. Internal routing in the top tube for both the brake cable and the derailleur cable. Distinctive seat post clamping; very Italian lugs. Serial number on the seat tube, classically Italian. This was (and will be) a very pretty bike.
There's a boss on the fork for a sidewall dynamo:
And there's a chain guard mount on the chain stay. Derailleur hanger may have been cut off?
Balilla brakes: