A levitation potion does not save a player from fall damage.

Jump off a tall structure and get the levitation effect before you fall (potion or command). You should stop falling and start to slowly levitate upward. Wen the effect runs out, even if you fall one block, you will die of fall damage.

I did this by jumping off one of the new structures in the End and landing on a chorus flower. I fell less than 1 block onto it and died.

Tested on multiplayer.