"ipchains -A input -i ppp0 -p tcp -s 204.253.104.95 -j DENY" translates to "Deny incoming packets on device PPP0 where the protocol is TCP and the source IP address is 204.253.104.95"
"ipchains -A input -i ppp0 -p tcp -s 204.253.104.95 -d $EXTIP/32 -j DENY" translates to "Deny incoming packets on device PPP0 where the protocol is TCP and the source IP is 204.253.104.95 and the destination IP is $EXTIP", where $EXTIP is a variable for your External IP address. The /32 is CIDR notation for a subnet mask of 255.255.255.255 (someone correct me if I an wrong).
CIDR
/32 = 255.255.255.255
/24 = 255.255.255.0
/16 = 255.255.0.0
/8 = 255.0.0.0
Both rules should accomplish what you want to do, unless you specific a "-d " argument, ipchains assumes "anywhere" or 0.0.0.0. In this case, since the rule is incoming, it really shouldn't matter.
Hope this helped,
Nathan